More Safeguards Needed<\/strong><\/h2>\nWhile a $100 million transfer at your local community bank would certainly raise plenty of eyebrows, it likely didn’t cause much suspicion at the NY Federal Reserve, where more than $2.6 trillion in assets is (supposed to be) safeguarded.<\/p>\n
Assuming the Bangladesh heist was indeed performed by criminals and not an inside job, the robbery should emphasize the continued need to create more sophisticated cyber safeguards. The largest Federal Reserve in the United States being so easily compromised is surely reason for much concern for just about everybody.<\/p>\n
In fact, other federal institutions are taking proactive measures to better defend their operations online. Earlier this month, the Pentagon invited vetted hackers to try and infiltrate its private network and public websites.<\/strong><\/p>\n“Hack the Pentagon” is a bounty competition where approved hackers are rewarded for infiltrating and exposing areas prone to intrusion.<\/p>\n
“I am confident that this innovative initiative will strengthen our digital defenses and ultimately enhance our national security,” US Defense Secretary Ash Carter said of the certainly unusual, but apparently much-needed, program.<\/p>\n","protected":false},"excerpt":{"rendered":"
The New York Federal Reserve says it was involved in no wrongdoing in what appears to be a successful $100 million cyber heist last month. On February 5, hackers looted the Central Bank of Bangladesh’s Federal Reserve Account, stored in Manhattan, by scheduling a $100 million wire transfer through the Society for Worldwide Interbank Financial […]<\/p>\n","protected":false},"author":42,"featured_media":34281,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10,13,18],"tags":[],"acf":[],"yoast_head":"\n
New York Federal Reserve Deflects Responsibility for $100 Million Cyber Heist, But Were Casinos Money Launderers?<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n