FID warns banks against another cyberattack

The Financial Institutions Division (FID) has warned all the banks against possible cyberattacks of North Korean hacker group 'Beagle Boys' on Bangladesh's financial sector, an official of the FID said. 

Last Thursday, the Financial Institutions Division wrote to the banks to be vigilant in this regard. It said the North Korean-based hacker group 'Beagle Boys' was involved in stealing money from Bangladesh Bank's reserves in 2016. They can also withdraw money from ATM booths of different banks in Bangladesh and hack into Swift network.

Banks are taking extra precautions after receiving this letter. Banks have stepped up surveillance of online transactions and ATM booths. Besides, some banks are keeping their ATM booths closed at night. Meanwhile, state-owned Rupali Bank has decided to close all its ATM booths from 11pm to 8am.

On August 26, Bangladesh Bank issued a warning against a new cyberattack on local banks. Even then, a North Korean hacker group warned banks that they could carry out cyberattacks. As a result, many banks limit online banking services. At the same time, some banks block the opportunity for customers of other banks to withdraw money from ATMs.

Syed Mahbubur Rahman, managing director of Mutual Trust Bank, said, "I have already received an early warning letter. Since then, possible precautionary measures have been taken by banks.”

ask/wi