The first recorded bank heist in US history occurred in 1831, when James Honeyman and William Murray entered the City Bank of New York, courtesy of forged keys—and made away with $245,000 in cash. Fast forward to 2016, and crooks made away with $1 billion from the Bangladesh Bank by using much the same tactic—although the forged keys were transmitted through the Swift network, via fiberoptic cables, sending fake instructions to the central bank’s account at the Federal Reserve Bank of New York.
The founder and CEO of Imperative Execution looks at how trade execution is changing and what that means for the buy side.Subscribe to Weekly Wrap emails
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