Possible North Korean Involvement in the $100 Million Theft from the Bangladesh Bank

Cybersecurity investigations suggest that North Korea may be involved in the recent cyberattacks on the Bangladesh Central Bank, which resulted in the theft of over $100 million. In this cyberattack, attempts were also made to steal hundreds of millions of dollars from other Asian banks. The Associated Press reports that if these findings are true, it indicates that North Korea's strategies and policies have entered a new phase. The American research company Symantec states that the malware used in the February attack on the Bangladesh Bank's account in the New York Federal Reserve, which resulted in the theft of $101 million, is similar to malware previously used by a group known as 'Lazarus.' The Lazarus group attempted to hack systems in the U.S. and South Korea during several attacks in 2009. This group also hacked Sony Pictures two years ago, at which time the FBI accused the North Korean government of orchestrating these attacks, an accusation denied by North Korea. Symantec claims that the unique code of this malware was also used in attacks last October on a bank in the Philippines and later on a bank in Vietnam, in both cases attempting to infiltrate the Bangladesh Bank through those banks. Last month, SWIFT announced that a series of new cyberattacks had occurred against a bank whose name was not disclosed. SWIFT stated that this attack was part of an organized campaign that had previously targeted the Bangladesh Bank. SWIFT did not provide further information about this unnamed bank, and it is unclear whether any theft occurred there. The news of North Korea's possible involvement in cyberattacks on banks comes as the European Union announced on Friday that it intends to add new items to its sanctions list against North Korea. These sanctions will undoubtedly further isolate and weaken this country and its economy. The European Union states that all aircraft coming from North Korea or any flights operated by North Korean airlines are prohibited from entering and using European airspace. This law also applies to North Korean ships and the maritime industry. Additionally, more sanctions will be imposed on financial transactions and investments in North Korea. North Korea is also prohibited from selling oil or any other products to the European Union, and European citizens are not allowed to invest in the mining and chemical industries of this country. According to Reuters, the new EU sanctions go beyond those of the UN Security Council and include additional items. The EU's sanctions regime against North Korea has been in place for 10 years, in conjunction with UN sanctions, and North Korea has increasingly provoked sensitivities against itself in recent years with claims of conducting nuclear and missile tests.