Bangladesh Bank Heist 2016

1. How Banks Got
Hacked

2. AGENDA
1. What is SWIFT
2. Bangladesh Heist Complexity
3. Modus Operandi of the Attacks
4. Latest Hacks and Communiy Response

3. What is SWIFT?
Society for Worldwide Interbank Financial Telecommunication

4. What is SWIFT?
Correspondent Banking Basics

5. Bangladesh Heist Complexity

6. Modus Operandi of the Attacks
Technical Knowhow Business Knowhow

7. Latest Hacks and Financial Community Response
What is new
Hiding evidence
• Is the only change. Hackers simply crash the server after
submitting messages.
• An average of 72 hours is required to clear the money from the
next correspondent
Hackers Still
• Using phishing emails to compromise bank systems
• Around 250 days monitoring the transaction flow after
penetrating the bank
• Use valid operator credentials to submit fraudulent SWIFT
messages
The Response
• Launch of SWIFT Customer Security Programme
• More frequent patching of the systems
• Mandatory usage of 2FA for bank SWIFT operators
• Systems monitoring with business rules
• Adoption of a threat hunting program to detect attackers
sooner