International payments network Swift has signed an agreement to help Bangladesh Bank rebuild its infrastructure after hackers breached it to steal $81m in 2016.
Few unidentified hackers utilised Swift network to siphon off $81m from Bangladesh Bank’s systems.
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The stolen money was transferred to Federal Reserve branch in New York branch, where Bangladesh Bank has an account.
Recently, the New York Fed was reported to have agreed to provide technical assistance to Bangladesh Bank in its petition against Philippines-based Rizal Commercial Banking (RCBC), through which the siphoned amount was transferred.
In a statement to Reuters, Swift said that it has worked with the New York Fed and Bangladesh since the cyber theft and continue to take joint efforts to recover the money.
It also added that Swift will continue to support such efforts to prevent cyber theft and protect the international financial system.
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By GlobalDataHowever, the payments network did not confirm if it will support the bank in the lawsuit in New York. Bangladesh Bank also declined to comment on the role of Swift in legal case.
The Fed will help Bangladesh Bank in preparing affidavits for the Bangladesh Bank as well as relevant non-privileged documents and information on the lawsuit against RCBC, a source familiar with the matter told Reuters.
A global member-owned cooperative, Swift offers services to more than 11,000 financial institutions across 200 countries.
