Archive for March 21st, 2016

How to rob a central bank? Case of Bangladesh…

March 21, 2016

I did read this news last week but forgot to blog about it. Bloomberg edit team uses the case as a warning to all central bankers who can know more ignore cyber threats at their end. So far hackers were limited to banks but now have moved to central banks as well. Willie Sulton, the bank robber was once asked  why he robbed a bank? TO which his answer was “that is where the money is”. Likewise, why just stop at a bank. Get to the creator of money which is the central bank.

What was this Bangladesh story? Few people managed to hack their system and get funds transferred to remote accounts elsewhere.  It is just an amazing case of heist in digital space. As this blog keeps mentioning, banking is increasingly becoming a sub-sector of information technology. A bank is no more just about loans and deposits but equally about encryption and softwares. Soon, latter will take over former in terms of importance given how systems are getting integrated. This blog will not be surprised if we go onto see technology people heading and managing a bank.

 

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Managing the politics of water and getting really serious about it…

March 21, 2016

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The damage done by getting education in Indian schools

March 21, 2016

Nazreen Fazal has a post which I am sure is the story of most people who studied in Indian schools. After intense toil and labour in our schools, we realise most of education is actually not of any use.

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