• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

2

Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal

3

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

1

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

2

Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal

3

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Techbank malware

Malware Suspected in Bangladesh Bank Heist

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
March 12, 2016, 12:02 PM ET
Commuters pass by the front of the Bangladesh central bank building in Dhaka
Commuters pass by the front of the Bangladesh central bank building in Dhaka March 8, 2016. REUTERS/Ashikur Rahman© Ashikur Rahman / Reuters REUTERS
Add Fortune on Google for similar content.

Investigators suspect unknown hackers installed malware in the Bangladesh central bank’s computer systems and watched, probably for weeks, for how to go about withdrawing money from its U.S. account, two bank officials briefed on the matter said on Friday.

More than a month after hackers breached Bangladesh Bank’s systems and attempted to steal nearly $1 billion from its account at the Federal Reserve Bank of New York, cyber security experts are trying to find out how the hackers got in.

FireEye Inc’s Mandiant forensics division is helping investigate the cyber heist, which netted hackers more than $80 million before it was uncovered.

The hackers appeared to have stolen Bangladesh Bank’s credentials for the SWIFT messaging system, which banks around the world use for secure financial communication.

Hackers Unleash Ransomware on Apple’s Mac Computers for the First Time

In a statement Friday, Belgium-based SWIFT said: “SWIFT and the Central Bank of Bangladesh are working together to resolve an internal operational issue at the central bank. SWIFT’s core messaging services were not impacted by the issue and continued to work as normal.”

Banks and other businesses are eager to learn more about how the central bank was compromised so they can review their own networks for signs that they are vulnerable to similar attacks or might already have been breached, security professionals and bank executives told Reuters.

The incident could prompt central banks worldwide to beef up security and regulate financial institutions more tightly to prevent similar attacks, said Aviv Raff, chief technology officer with the cyber security firm Seculert.

“If banks are not better regulated this will for sure happen again,” said Raff.

Investigators suspect that malicious software code, often referred to as malware, which allowed hackers to learn how to withdraw the money could have been installed several weeks before the incident, which took place between Feb. 4 and Feb. 5, said Bangladesh Bank officials briefed on the matter.

For more on the banking industry and tech, watch:

Investigators believe the attack was sophisticated, describing the use of a “zero day” and referring to an “advanced persistent threat,” the officials said.

A zero day is a vulnerability in software that has yet to be identified or patched. This makes it easier for hackers to infect a targeted computer without the victim’s knowledge, even if it is protected with security software.

Advanced persistent threat refers to long-term attacks where hackers remain inside a network for months or even years.

Security experts said they hope samples of the malware will be made available to researchers so they can determine whether they are truly advanced, or if Bangladesh Bank’s security protections were not strong enough to block the attack.

“The next piece of the puzzle that will likely emerge is a sample of the malware and/or if a true zero-day vulnerability was used,” said Jeff Wichman, a consultant with cyber security firm Optiv.

The Bangladesh Bank officials acknowledged weaknesses in their systems and said it could take two years or more to repair the problems.

Wichman said he suspects one of the tools was a customised version of a common piece of malware known as a Remote Access Trojan, or RAT, which gives attackers the ability to gain remote control of a victim’s computer.

Get Data Sheet, Fortune’s daily newsletter about technology.

So far investigators have not found any proof that central bank staff in Bangladesh were involved, one of the officials said, but said the probe was continuing.

Security experts say that if insiders were not involved, the attackers likely had assistance from somebody close to the banking industry. They also may have spied on bank workers over an extended period to gain details about wire-transfer processes and other operations, they said.

“It takes somebody with deep knowledge of the banking industry to perform these types of crime,” said Shane Shook, a security consultant who has investigated some of the biggest cyber breaches on record.

The New York Fed, which provides banking services to some 250 central banks and other institutions, has said its systems were not compromised.

The Bangladesh central bank had billions of dollars in its current account, which it used for international settlements, officials have said. The stolen money made its way to various parts of the world.

Some $80 million are believed to have ended in the Philippines, and further diverted to casinos and then to Hong Kong, according to bank officials. One $20 million transaction was directed to a non-profit organization in Sri Lanka.

But the unusually large transaction for the island nation and a misspelling of the NGO’s name raised red flags that helped bring the robbery to light. The transaction was blocked as was another huge payment instruction that was for between $850 million and $870 million.

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Tech

Jeff Bezos says being lazy, not working hard, is the root of anxiety: ‘The stress goes away the second I take that first step’
SuccessJeff Bezos
Jeff Bezos says being lazy, not working hard, is the root of anxiety: ‘The stress goes away the second I take that first step’
By Sydney LakeJuly 26, 2026
3 hours ago
A Gen Xer sold his company for $1.6 billion. He kept less than $100 million and gave the rest away because he doesn’t ‘believe in billionaires’
SuccessHow I made my first million
A Gen Xer sold his company for $1.6 billion. He kept less than $100 million and gave the rest away because he doesn’t ‘believe in billionaires’
By Orianna Rosa RoyleJuly 26, 2026
3 hours ago
The Trump administration has accrued roughly $26.7 billion across 30 equity or quasi-equity deals
EconomyDonald Trump
The U.S. government invested $27 billion in corporate stakes. Good luck finding them
By Eva RoytburgJuly 26, 2026
4 hours ago
raikes
CommentaryMicrosoft
Jeff Raikes: The talent debt I warned about is now showing up in the data
By Jeff RaikesJuly 26, 2026
5 hours ago
beatles
CommentaryLeadership
George Martin never out-wrote the Beatles. That’s exactly why he’s the AI leadership lesson we need now
By Jeff DeGraffJuly 26, 2026
6 hours ago
‘My childhood home is being taken’: Eminent domain for data centers targets properties across a thousand miles of grid expansion in Georgia
EnergyData centers
‘My childhood home is being taken’: Eminent domain for data centers targets properties across a thousand miles of grid expansion in Georgia
By Joshua HongJuly 26, 2026
7 hours ago

Most Popular

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
1 day ago
Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal
Middle East
Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal
By Jason MaJuly 25, 2026
21 hours ago
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
2 days ago
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Success
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
By Orianna Rosa RoyleJuly 25, 2026
1 day ago
Startups are installing tiny data centers in people’s homes to reduce strain on the beleaguered electrical grid
Environment
Startups are installing tiny data centers in people’s homes to reduce strain on the beleaguered electrical grid
By Sasha RogelbergJuly 25, 2026
1 day ago
College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
Economy
College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
By Mia OsmonbekovJuly 26, 2026
6 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.