EditorialsYoda Advice

Bangladesh Bank Heist Made Possible Because Of Second Hand $10 Switches, No Firewall

Network_switches

Let this be a lesson in security for everybody

The past week we’ve been seeing the results of people and government agencies not taking security seriously. If you needed another reminder why internet security shouldn’t be cheaped out on, take the case of the still unresolved hacking of the Bangladesh Bank and the $80 million that managed to find its way here in the Philippines: authorities have determined that the attack could have been prevented had the bank not used second hand, $10 (Php 460) switches that didn’t have a firewall.

Worse still was the fact that those switches that were connected to their network were also connected to computers utilizing the SWIFT global payment system, allowing the hackers to gain access to credentials required to make high-value transfers to their own accounts.

If that wasn’t enough, the lack of sophisticated security means that authorities have a harder time trying to determine the source of the hack – all that they’ve found are the people who’ve received the payments and not the actual hackers themselves.

In cybersecurity, you really do get what you pay for – something that the Comelec is probably learning the hard way today.

John Nieves

John is a veteran technology and gadget journalist with more than 10 years of experience both in print and online. When not writing about technology, he frequently gets lost in the boonies playing soldier.

Related Articles

2 Comments

  1. Comelec seems to be taking the whole issue in good stride.
    And by good stride, I mean doing jack f*cking sh*t.

    Yay Philippines!

  2. COMELEC HAS TOTALLY LOST
    ALL THE REMAINING CREDIBILITY
    THAT IT BEARS… IF THERE’S
    STILL ANY LEFT.

    THE ONLY HONORABLE
    WAY OUT NOW IS FOR ALL THE
    COMELEC LEADERSHIP TO RESIGN
    & SAVE FACE NOT ONLY FOR
    THEMSELVES BUT FOR COUNTRY
    AS A WHOLE…

    ANYTHING LESS IS UTTER
    STUPIDITY & “KAKAPALAN NG
    MUKHA” !!!

    THE FILIPINO IS HONORABLE…
    HE IS NEVER STUPID
    & NOT “MAKAPAL” !!!

    GETS MO COMELEC ???
    NOW SHOW US YOUR TRUE FACE…

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
Close
%d bloggers like this: