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Home Business The theft of Bangladesh's reserves is the biggest cyber attack

The theft of Bangladesh's reserves is the biggest cyber attack

by endroar
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Among all the types of cyber attacks that have occurred in the global financial sector in recent years, the theft of Bangladesh Bank's reserves is the biggest. The hackers stole the money by fraudulently sending some important information from Bangladesh Bank to the Federal Reserve Bank of New York.

Not only Bangladesh, cyber attacks have also occurred in other countries in the last few years. The attacks are related to the SWIFT (Society for Worldwide Interbank Financial Telecommunication) international transaction system.

These things were said in the International Monetary Fund (IMF) Global Financial Stability Report, 2024. The agency released this report on Tuesday.

In the Global Financial Stability Report (GFSR), the IMF advised member countries to strengthen their capacity to avoid cyber risks in the financial sector. Since 2022, many have contacted the IMF to improve the financial sector's ability to avoid cyber risks, the agency said. They also want to take training.

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