The Federal Reserve Bank of New York and Bangladesh's central bank have agreed to withdraw additional payment security measures put in place after one of the world's biggest cyber heists, the theft of US$81mil (RM323.80mil) from Bangladesh Bank's account at the Fed, two sources said.
The decision comes after SWIFT, the global financial messaging platform, promised in May to strengthen security on software tools used by its clients and to develop new tools that would spot when a compromised account and raise a red flag when a payment instruction deviates from normal patterns.