Little Known Lawsuit Exposes Yet Another Major Cyberheist in ‘Secure’ Global Payments System

from Zero Hedge

A few months ago, we reported the incredible story of how hackers stole $100 million from Bangladesh Central Bank by way of the New York Federal Reserve. Now, thanks to a little noticed lawsuit, details are emerging that hackers had initially stolen another $12 million from a bank in Ecuador, Banco del Austro, although the bank was able to get back about $2.8 million of the stolen money.

The Ecuadorean bank filed a lawsuit in New York federal court this year, accusing Wells Fargo of failing to notice red flags in a dozen January 2015 transactions, leading to $12 million being transferred from its account, mostly directed to banks in Hong Kong. In addition to Hong Kong, $1.5 million was transferred to an account in Los Angeles, and $1 million was sent to a bank in Dubai the WSJ reports.

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