International Monetary Fund
PHOTOS: TOM NICHOLSON/REUTERS/NEWSCOM; COURTESY OF VANESSA NAKATE; ANTOVA
Steve Dorst
PHOTO: JEEVANI FERNANDO
Tim Maurer
and
Arthur Nelson
In February 2016, hackers targeted the central bank of Bangladesh and exploited vulnerabilities in SWIFT, the global financial system’s main electronic payment messaging system, trying to steal $1 billion. While most transactions were blocked, $101 million still disappeared. The heist was a wake-up call for the finance world that systemic cyber risks in the financial system had been severely underestimated.
Mr. David Amaglobeli
,
Ms. Era Dabla-Norris
, and
Vitor Gaspar
Finance & Development, March 2020
Finance and Development, September 2016
Ms. Sharmini Coorey
Finance and Development, September 2016