Case Study
Bangladesh central bank cyber heist
The World's largest cyber heist WICS was at the center of it
Find out more about our story, and how you can protect your bank from Cyber theft
HISTORY
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).
WHO WE ARE
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.
Yrs CSP Experience
SWIFT Assessments
Control Vulnerabilities found
COMPANY PROFILE
World Informatix Cyber Security (WICS)
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).
What we offer
Our Services
Security Testing Services (VAPT)
Security Operation Center (SOC)
Governance, Risk & Compliance
Ensure compliance and best-practice protections in cybersecurity by aligning to industry standards such as NIST, ISO, PCI-DSS and SWIFT.
Incident Response
IT Helpdesk Support
We provide 24×7 IT Helpdesk solutions to help organizations boost productivity and reduce downtime with our efficient and reliable IT helpdesk solutions.
Cyber Training and Awareness
Support a culture of cybersecurity awareness and safety at your organization through targeted training and assessments.
SWIFT CSP Assessment
A in-depth cybersecurity assessment of your payment systems environment to protect critical assets and provide compliance.
World Informatix Cyber Security is a US based cyber security firm founded in 2012. World Informatix Cyber Security professionals bring a deep understanding of Cyber Security in developing countries and provide unbiased advice always in the best interest of the clients.
World Informatix Cyber Security Services is investing in protecting your valuable IT assets from attacks by capable adversaries. We deploy sophisticated cyber tools, manual reviews and provide zero-false positive results for remediating any vulnerabilities in your IT environment.
World Informatix Cyber Security professionals bring decades of experience from the World bank, having dealt with multiple cyber security threats in various forms. Furthermore, World Informatix Cyber Security was entrusted with investigating the largest cyber heist in history, the theft of $101 million dollars from the Central Bank of Bangladesh.
| Comprehensive health check based on Top 10 lessons | priced upon review and agreed scope |
| Review of Payment System Security Controls | fixed price |
| Develop Incidence Response Plan | fixed price |
| Conduct a Security Awareness Program CBT | licensed per user |
| Compromise Assessment Service | priced upon review and agreed scope |
World Informatix partners with cyber defense product companies to bring you comprehensive cyber security testing. World Informatix partners with three main companies: FireEye Mandiant, Crytegic and Lightcyber. FireEye’s Mandiant Compromise Assessment Services determine whether your environment has been breached and find compromised assets. Crytegic’s Cyber Decision Services identifies high risk areas. DSS product combines threat analysis using internal assessment and external threat intelligence enabling risk managers to focus resources and investment in high risk areas. Lightcyber’s Magna brings advanced technology to detect anomalous behaviors in network intrusion detection and is not based on standard signatures and pattern recognition.
World Informatix Cyber Security is a US based firm with offices in Washington D.C. and Florida. The delivery center is located in India.