Podcast Episode

The Biggest Bank Robbery In History That You Havent Heard Of ~ Chris Williamson

Chris Williamson’s Podcast

Oct 17, 202610 min

Who’s talking

3 speakers
George Mack5 min · 51%
Chris Williamson5 min · 45%
Speaker 221 sec · 3%

1Transcript24 turns · 10 min

CW
Chris Williamson0:01

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Speaker 20:08

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GM
George Mack0:30

Lideshi bank heist. No. Now we're talking, right? This is going to blow your mind. And again, it doesn't sound good right now, but it's going to be good. So the biggest bank robbery in history was, I think it's about $60 million in Brazil in about 2015, 2016. With cybercrime recently- they almost hacked $1 billion from the Bangladeshi bank using the SWIFT system, right? The context that year, the Bangladeshi GDP was like 230 billion. So think with GDP as well, it's movement of money. It's not total money. If Chris sends George 10 and I send it back, boom, boom, boom, that acts towards the GDP, but it's just us exchanging money. So imagine taking $1 billion like that and from a developing country immediately. And the only reason that failed, the only reason this isn't, there will be, I think, within five to 10 years, there will be a COVID-like moment. Do you remember pandemics before COVID? It was like bird flu, swine flu. You'd just be like, oh, the sun's just trying to get clicks and things like that. I remember I used to tell people about COVID in January, February. I won't say who, but they used to call me Conspiracy George for bringing up COVID. And now obviously pandemics are taken very seriously, but there will be a 9-11 or a, COVID-like moment for cyber where things get very, very dark, very fast. I think the Bangladeshi bank heist is only a tiny example of that, where you go from $60 million robbery in person to $1 billion overnight. The only reason why it failed is because the hackers that were working on this system, so they emailed, they sent an email with a CV application The person at the bank clicks on the CV, infects everything. They're working on it for a year. They time it perfectly during the New Year's holidays. Everything about this height has gone perfect. Bear in mind, this bank would only move about 300K around. The SWIFT system, so it goes to the Federal Reserve in America, because it sees 1 billion and they're like, yeah, sure. So it's like the security systems weren't in place. The only reason it failed is because two things. One, they had a typo for the addresses. So literally it didn't fail because of the amount, it failed because of- Human error. Human error. And it was a really basic English spelling that they made a mistake. And then two, the bank in the Philippines they were sending it to was called Jupiter Street. And Jupiter was a company associated with Iranian money laundering. So it just happened to flag in the system. Otherwise it would have gone through. Both of which were human error. A billion would have been taken from Bangladesh, like one of the poorest countries in the world like that. And the impact that has, and you

2Episode notes

The Biggest Bank Robbery In History That You Havent Heard Of ~ Chris Williamson

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