Remember the Bangladesh Bank online heist? Despite countless attacks on Companies and governments and despite the ongoing leak of data, it appears that some businesses they just do not take cybersecurity seriously.
For those who do not remember or did not notice, Bangladesh Bank experienced an attempted robbery that would cost them 950.000.000 dollars.
According to a researcher who is looking into the hack n bank used used network switches that cost $10, and did not have a reliable firewall, as reported today by Reuters.
Network switches cost hundreds of dollars each, but the bank thought that with the $10 ones it could connect the bank's systems to the global network payments SWIFT.
So by penetrating the bank's systems, the hackers could automatically move money using the credentials used by the bank to connect to the SWIFT payment network.
According to Reuters, the bank took care of upgrading the switches only after the hack was unveiled.
So millions of dollars were successfully transferred to "invisible" accounts of hackers, and the robbery stopped due to a spelling mistake!
If you do not remember the story read: