It has been 5 years since the historic attack on the Central Bank of Bangladesh
On the night of February 4th, 2016, a cyber-attack occurred at the Central Bank of Bangladesh that was so massive, it threatened the financial stability of the entire country and forever changed the cyber landscape for the financial industry around the world. What was first perceived as a simple printer malfunction or technical glitch turned out to be the largest cyber-heist in history, which resulted in the fraudulent transfer of US $101 million from the Central Banks accounts to overseas beneficiaries.
The event, in which a staggering $951 million was the intended target amount, marked a significant shift in thinking about the threats posed by cyber incidents with the realization that highly organized and advanced threat actors could target any organization with impunity and without boundaries.
- Bangladesh Bank entrusted World Informatix Cyber Security (WICS) with the investigation mandate for this heist, providing incidence response, remediation, and strategic direction.
- WICS coordinated with SWIFT, FBI, Central Bank of Bangladesh & Bangladesh Government during the aftermath of the attack.
- World Informatix Cyber Security provides cybersecurity services and SWIFT CSP Security Reviews to global clients including governments, IFI's (United Nations, New Development Bank, Asian Development Bank).
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SWIFT CSP & FEDLINE SOLUTIONS
Cyber attacks on global financial institutions continue to pose a threat. As a result of a number of targeted breaches in recent years, SWIFT & Payment Systems worldwide have issued mandatory customer security controls to establish a security baseline for the entire industry.
Our (SWIFT) Payment System Review is a comprehensive risk assessment and policy review which provides assurance of the highest level of cybersecurity posture for banks, financial institutions, and users of the SWIFT / similar payment systems. The service can be used to provide attestation to mandatory CSP guidelines.
WICS has helped provide attestation to governments, commercial entities, and International Development & Financial Institutions worldwide. We have developed a unique 'Payment System Review' framework based on the latest SWIFT CSP framework and our own industry experiences.
World Informatix Cyber Security (WICS), a US-based cybersecurity company, has earned the trust and reputation of global clients including governments, multinational agencies, and large corporate entities. Founded in 2014, WICS USA and its technical delivery center in India provide a comprehensive set of solutions to clients across 5 continents.
WICS merges strong cybersecurity qualifications and expertise with a global perspective to help our clients protect against emerging threats and respond to cyber-attacks. Marquee clients such as the Central Banks, the United Nations, IFI’s, and Fortune 500 companies have entrusted WICS with the provisioning of key cybersecurity services including strategic consulting, advanced security testing, comprehensive security framework assessments, incident response, and security operation center (SOC).