It is important to note that the recent incident with the Bangladesh Bank was not caused by a breach or compromise of the New York Fed’s systems.
Regardless, the New York Fed has and is taking immediate steps to help strengthen the safety of global payments in light of the potential vulnerabilities that have been exposed in the payments chain. In conjunction with the Board of Governors, the New York Fed has taken a comprehensive look at its processes and has enhanced monitoring for certain jurisdictions and transaction types for customers.
