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Hackers Try Smaller Heists

In the three years since the massive cyberattack on the Bangladeshi account with the U.S. Federal Reserve, the size of such attempted crimes has shrunk.

By Yalman Onaran | April 10, 2019 at 12:52 PM

Three years after hackers managed to siphon off more than $100 million from the Bangladeshi central bank’s account in the U.S. Federal Reserve, cybercriminals are going smaller.

In 2018, attempted fraudulent transactions ranged from $250,000 and $2 million, down from tens of millions of dollars in the previous two years, interbank messaging system SWIFT said in a report Wednesday. Almost all fraudulent transactions—83 percent—were sent to banks in the Asia-Pacific region, while the targeted lenders were mostly located in countries rated highly corrupt by international regulators, SWIFT said. Tajikistan, Mozambique, and Afghanistan topped those rankings in 2018.

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