Bangladesh Government to sue US Federal Reserve Bank over $130m hack

Aug 24, 2016 | 4:04 am

Published by | Karnveer Singh

The administration of Bangladesh is thinking about legal action against the Federal Reserve Bank of New York after $130 million was stolen from its records, with some it obviously being laundered through gambling clubs in The Philippines.

A portion of the cash, about $26.5m, was moved through records in Sri Lanka and this cash has been recouped. In any case, more than $100m is as yet missing. Authorities believe it was sent to black market cash merchants in The Philippines, who washed the cash through gambling clubs-casinos.

Mukesh Chaudhary, an Indian expert on cyber security and crime, told The Australian that while it could have been an inside job, hackers may have used “social engineering techniques” to fool employees who had ­access to the accounts.

He said the hackers may have learnt who had access to the codes and who could authorize the transfers and then set up fake email accounts and fake web pages. He said this method had been used recently in a number of large-scale frauds where money was transferred and then stolen.

Source: The Australian

Significant threats of India Mart: Selling OTC Drugs

Utilizing IndiaMart to rip off foreigners who look for illicit medications gives off an impression of being a moderately generally safe wrongdoing, says Mukesh Choudhary, a Jaipur-based cybercrime master who trains Indian law authorization.

Using IndiaMart to rip off foreigners who seek illegal drugs appears to be a relatively low-risk crime, says Mukesh Choudhary, a Jaipur-based cybercrime expert who helps train Indian law enforcement.

Despite the fact that cheats and medication merchants occupy a modest, dull corner of the site, IndiaMart has “an obligation to the business sector” and will venture up its endeavors to weed out offenders, as indicated by Bedi. “The more we find out about this,” he says, “the more grounded our framework will get to be.”

However, for the present, the website seems to offer a scope of hard medications normally limited to exceedingly encoded dull web commercial centers — despite the fact that the chances of really accepting a gram of meth or a ziplock loaded with oxycodone by means of IndiaMart might be low.

Even Daiichi, the Indian meth seller, offers a word of caution to anyone trolling for speed on IndiaMart: “Stories like this [about pharma scammers] are very alarming, eh? You’d better be careful.”

Source: Global Post