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Typo Costs Bank Hackers Millions

Typo Costs Bank Hackers Millions

According to Reuters, a team of hackers gained access to Bangladesh's central bank back in February, transferring large amounts of money through more than 60 transactions to accounts in the Philippines and Sri Lanka from a Federal Reserve Bank of New York account.

Whilst the hackers did manage to reportedly get away with around $81 million, they would have had significantly more - almost $1 billion - had they not misspelled the name of the transfer, sending millions to the Shalika 'Fandation' instead of Foundation.

Staff spotted the error and attempted to contact the Bangladesh Bank to clarify, discovering the ruse and cancelling remaining transfers - totalling between $850 million and $870 million.

In recent years, bank robberies have become the online criminals' field of expertise, with the discovery last year of hackers stealing what is believed to have been as much as a billion dollars over a two year period.


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