How to make $81 million disappear

Bloomberg out with an interesting piece about the $81 million that went missing from the Bangladesh central bank in a cyber attack last year.

The cyber attack was the largest in history and involved the hackers issuing fraudulent instructions via SWIFT. The fraudulent payments were made to bank accounts in the Philippines which were set up using fake names.

The perpetrators then laundered their money by playing baccarat at a Manila casino. The whole story reads like a movie script. Worth a read here.