A Bangladesh government-appointed panel investigating the theft of $US81 million ($A112 million) from the country's central bank has found that SWIFT, the international banking payments network, committed a number of mistakes in connecting up a local network, the panel head says.
"We have shown that SWIFT made a number of errors that made it easy for the hackers," Mohammed Farashuddin, a former governor of the Bangladeshi central bank, told reporters on Sunday.
He said SWIFT, a cooperative owned by 3000 financial institutions, could not escape responsibility as it had connected its network to the central bank's new real time gross settlement (RTGS) system launched in October for domestic transactions.
"SWIFT is responsible for the heist of Bangladesh Bank as it approached the central bank for the installation of RTGS real time gross settlement," Farashuddin said.
SWIFT has already rejected allegations made by Dhaka that it had been at fault, saying its financial messaging system remained secure and had not been breached by the hackers during the attack on Bangladesh Bank.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
The hackers broke into the computer systems of the central bank in early February and issued instructions through the SWIFT network to transfer $US951 million of its deposits held at the New York Federal Reserve Bank to accounts in the Philippines and Sri Lanka.
Most of the transactions were blocked but four went through amounting to $US81 million, prompting allegations by Bangladeshi officials that both the Fed and SWIFT had failed to detect the fraud.
Bangladeshi police and a bank official said earlier this month that the central bank became more vulnerable to hackers when technicians from SWIFT connected the new bank transaction system to SWIFT messaging three months before the cyber theft.
The local Daily Star newspaper quoted Farashuddin as saying that SWIFT failed to implement 13 security measures in the installation of the system.
Farashuddin is due to submit his final report to the government in the next few days.
A spokeswoman for SWIFT said she had no immediate comment to make.
