BREAKING NEWS

Six US senators urge Obama to prioritize cyber at G20 in China

By REUTERS

AUGUST 29, 2016 23:39

NEW YORK - Six US senators have urged President Barack Obama to prioritize cyber crime at a this weekend's G20 summit in China in the wake of the $81-million heist from Bangladesh's central bank, according to a letter obtained by Reuters.

The letter from Sherrod Brown, a senior Democrat on the Senate Banking Committee, and five other senators want the US President to press leaders from the world's biggest economies to commit to a "coordinated strategy to combat cyber-crime at critical financial institutions," in G20 communiques at the Sept. 4-5 summit in Hangzhou, China.

The letter, dated Monday, cites the February incident in which hackers breached Bangladesh Bank's systems and used the SWIFT banking network to request nearly $1 billion from an account held at the Federal Reserve Bank of New York. Some of the dozens of orders were filled, with much of the lost $81 million disappearing into Philippines casinos.

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