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Bank of England urges UK institutions to bulk up cybersecurity after Bangladesh hack

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Michael Rase
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The Bank of England issued an urgent warning to UK financial institutions after Bangladesh hack

In the wake of an orchestrated cyberattack found to be targeting numerous banks across the globe, the Bank of England issued an urgent call of all UK institutions to check for "indicators of compromise" on any computer connected to the Swift messaging service, it has emerged.

Officials close to the UK central bank, who spoke to Reuters on condition of anonymity, said the warning was issued in mid-to-late April – however is only now being made public.

In this case, which is still being investigated, hackers were able to compromise $81 £56m in a complex scheme.

It also demanded a "compliance check" to ensure that security policies put forward by Swift are being followed, alongside a check of who exactly has access to its sensitive applications and web portals.

Now, security firms – including FireEye – are in the process of investigating the landmark attack.

Echoing calls from the Bank of England, other central banks around the world have been instructed to bulk up security measures and IT systems.

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Michael Rase
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