The shocking truth is that just because you put your money in a bank doesn’t mean it’s safe. This is exactly what happened to those who bank using a bank located in Bangladesh. I guess people everywhere around the world need to bank, and even a small bank in Bangladesh can hold lots of money. According to the Panama report, this is one of the places where wealthy Americans like to stash their cash.
Apparently this might hold some truth to it as hackers broke into the system of a bank in Bangladesh and are said to have allegedly made away with roughly 80 million dollars. The hack was able to be done very easily. This 80 million dollar hack was at the fault of $10 switches. Rather than paying money to have secure systems in place it appears that this bank ordered their components online from Walmart. Not only did they order them from Walmart they got the absolute cheapest ones they could find.
For those who lost their money in this hack, it seems absurd that a bank would operate with such poor standards. What’s even crazier is that this bank was allowed to operate today with such poor standards. It’s almost as if this bank was set up so ignorant rich people would put their money there and it could be taken whenever it was a large enough fund to be useful.