Bangladesh Bank Heist 10 years

The 2016 Bangladesh Bank cyber heist was one of the most audacious financial cyberattacks in history. Hackers infiltrated the central bank’s network and used its SWIFT credentials to send 35 fraudulent transfer requests from its New York Federal Reserve account, attempting to steal nearly $1 billion. Most transactions were blocked, but approximately $101 million was moved abroad, with $81 million reaching the Philippines and laundered through local accounts and casinos. Investigations linked the attack to sophisticated malware and techniques associated with the Lazarus Group, exposing critical vulnerabilities in global banking systems and operational controls. The incident highlighted the need for stronger cybersecurity, risk management, and cross-border collaboration in the financial sector, prompting reforms in SWIFT security practices and increased focus on internal controls and threat detection to prevent similar breaches