Bangladesh Bank not electronically secure

Bangladesh Bank exposed to hackers by cheap switches, no firewall: cops

The big-money electronic heist that scourged the country has identified some basic shortcomings of the Bangladesh Bank itself, which contributed to the international siphoning. The shocking absence of a Firewall security to prevent cyber attacks. Furthermore, cheap USD $10 switches to network computers in turn connected to the SWIFT global payment network has piled up lax security.

Bangladesh progress on anti-money laundering

APG satisfied over move to stem terrorist financing

An eight member team of the Asia Pacific Group (APG) has expressed satisfaction on the recent preventative steps taken by the government to combat financing military and terrorism. In a meeting with the national coordination committee the team leader expressed its appreciation at the anti-money laundering and overturning terrorism financing. With a good rating from APG, Bangladesh may enjoy increase in foreign loan and grant, decline in expenditure on trade and better image of the country towards the Financial Action Task Force (FATF) on Money Laundering. This will be in a mutual evaluation with the APG.