• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
TechChanging Face of Security

U.S. Regulators Join FBI In Warning Banks on Cyber Threats After Bangladesh Heist

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
June 7, 2016, 2:28 PM ET
Federal Reserve Building in Washington, D.C.
Photograph by Anadolu Agency — Getty Images

U.S. regulators on Tuesday told banks to review the cyber security they have in place to protect against fraudulent money transfers and other threats to a global payments network, months after hackers stole $81 million from the Bangladesh central bank’s account at the Federal Reserve Bank of New York.

The notice from the Fed and other financial regulators comes two weeks after the U.S. Federal Bureau of Investigation urged banks to look for signs of possible cyber attacks and asked them to hunt for technical clues that they have been targeted by the same group, according to a notification seen by Reuters.

The warnings suggest that U.S. government and law enforcement agencies are concerned that recent attacks on banks in emerging-market economies could lead to losses for big U.S. firms that rely on the so-called SWIFT fund-transfer network, which serves as the backbone of international finance.

Get Data Sheet, Fortune’s technology newsletter.

In early February, thieves hacked into Bangladesh Bank’s interface with SWIFT’s network and peppered the New York Fed with payment instructions. Most of the requests were blocked, but four were filled, amounting to $81 million that went to accounts in the Philippines and remains missing.

“Financial institutions should review their risk management practices and controls over information technology and wholesale payment systems networks, including authentication, authorization, fraud detection, and response management systems and processes,” the Federal Financial Institutions Examination Council said in a statement on Tuesday.

 

 

Banks using such inter-bank messaging networks and that originate “unauthorized transactions” may be subject to “losses and compliance risk,” the council said.

The council—which besides the U.S. central bank includes the Federal Deposit Insurance Corporation and the Comptroller of the Currency, among other agencies—did not issue new cyber security rules, but rather highlighted existing guidelines.

The FBI’s notification, which provided technical information about the recent attacks, said a “malicious cyber group” had compromised the networks of multiple foreign banks. “The actors have exploited vulnerabilities in the internal environments of the banks and initiated unauthorized monetary transfers over an international payment messaging system,” the May 23 alert said.

The so-called “Flash” notification, which did not identify specific victims, asks recipients to call the FBI if they find any of the technical indicators mentioned in the bulletin or have other “related information.”

FBI spokeswoman Nora Scheland declined to comment on the notification, citing a bureau policy on such communications.

“The FBI routinely advises private industry of various cyber threat indicators observed during the course of our investigations,” she said. “This data is provided in order to help systems administrators guard against the actions of persistent cyber criminals.”

About the Author
By Reuters
See full bioRight Arrow Button Icon

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
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • 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
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

C-SuiteMarketing
Adrien Brody’s multimillion‑dollar TurboTax Super Bowl ad: Intuit’s CMO explains why the software giant spends more on marketing than R&D
By Geoff ColvinFebruary 15, 2026
11 minutes ago
AIProductivity
AI is everywhere except in the data, suggesting it will enhance labor in some sectors rather than replace workers in all sectors, top economist says
By Jason MaFebruary 14, 2026
13 hours ago
AIData centers
Anthropic CEO Dario Amodei explains his spending caution, warning if AI growth forecasts are off by just a year, ‘then you go bankrupt’
By Jason MaFebruary 14, 2026
15 hours ago
LawSurveillance
Amazon’s Ring ends partnership with top operator of license-plate reading systems after Super Bowl ad raises fears of dystopian surveillance society
By The Associated PressFebruary 14, 2026
20 hours ago
PoliticsDrone
Congress let more law enforcement agencies to down rogue drones. Then Customs and Border Protection fired a laser, shutting down an airport
By Josh Funk and The Associated PressFebruary 14, 2026
20 hours ago
hawkinson
CommentaryInfrastructure
Your essential services are one surprise failure away from disruption. Consider how physical AI could tackle the crisis
By Alex HawkinsonFebruary 14, 2026
22 hours ago

Most Popular

placeholder alt text
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloFebruary 13, 2026
2 days ago
placeholder alt text
Success
MacKenzie Scott says her college roommate loaned her $1,000 so she wouldn't have to drop out—and is now inspiring her to give away billions
By Sydney LakeFebruary 14, 2026
23 hours ago
placeholder alt text
Big Tech
Analog-obsessed Gen Zers are buying $40 app blockers to limit their social media use and take a break from the ‘slot machine in your pocket’
By Marco Quiroz-GutierrezFebruary 13, 2026
2 days ago
placeholder alt text
Economy
Some folks on Wall Street think yesterday’s U.S. jobs number is ‘implausible’ and thus due for a downward correction
By Jim EdwardsFebruary 12, 2026
3 days ago
placeholder alt text
AI
OpenAI's Codex and Anthropic's Claude spark coding revolution as developers say they've abandoned traditional programming
By Beatrice NolanFebruary 13, 2026
1 day ago
placeholder alt text
Personal Finance
Every U.S. Olympian was promised a $200,000 payout, but how much they actually keep depends on where they live
By Jacqueline MunisFebruary 11, 2026
4 days 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.