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'' 'HUAWEI -ERICSSON- NOKIA' ''
SWIFT - THE SOCIETY FOR WORLDWIDE Interbank Financial Telecommunication, a cooperative used by thousands of financial institutions around the world -
Just signed an agreement with Bangladesh's central bank to help it rebuild its infrastructure after hackers used it to steal $81 million in 2016 in the world's biggest ever heist.
Unidentified hackers, suspected to be from North Korea, carried out the heist by breaching Bangladesh's Bank's systems and using the SWIFT network to send fraudulent money transfer orders to New York branch of US central bank, with which the Dhaka bank has an account.
In its suit filed with US District Court in Manhattan, Bangladesh Bank accused RCBC and dozens of others, including several top executives, of involvement in a ''massive'' and ''intricately planned'' multi-year conspiracy to steal its money.
SWIFT'S comments after the New York Fed last Friday agreed to provide ''technical assistance'' to Bangladesh Bank in its lawsuit against Manila-based Rizal Commercial Banking Corp [RCBC].
RCBC was used to funnel the money, much of which disappeared into the casinos of the Philippines.
RCBC has called the legal action Bangladesh Bank filed on Thursday as beyond the US jurisdiction, ''completely baseless'' and ''nothing more than a thinly veiled PR campaign'' to shift blame from itself.
The World is turning into a Dangerous, Insecure and Alarming state.
IT IS A DILEMMA FOR EUROPEAN TELECOM FIRMS.........
Should they steal a march on competitors and rapidly roll-out next generation 5G mobile networks using equipment from top supplier Huawei or should they heed Us-led warnings of security threats and sit tight, and possibly fall behind?
Getting it right will have big consequences as 5G networks are the next milestone in the digital revolution, bringing near instantaneous connectivity, vast data capacity and futuristic technologies.
No operator wants to be left behind, and neither do governments who see 5G technology as a future keydriver of economic growth.
CHINA'S HUAWEI has quietly become a leading supplier of the backbone equipment of mobile networks, particularly in developing markets thanks to cheaper prices.
Spearheading cutting - edge 5G equipment has also seen it make inroads into developing markets.
However, a growing number of Western states are turning their backs on Huawei, fearful that the equipment could be a Trojan Horse for Beijing's intrusive security apparatus as Chinese law requires its firms to cooperate with intelligence services.
Huawei strenuously denies that its equipment could be used for espionage.
Whole most European countries are trying to make up their minds, mobile operators must must make their own choice, and it's a tough one.
Several operators have already begun tests with Huawei equipment, such as Bouygues Telecoms and SFR have at several French cities.
''Huawei is today more expensive than its rivals but it is also much better, they have really moved ahead in terms of quality of network equipment over their European competitors,'' said an executive of one European mobile operator recently on condition of anonymity.
Experts say Huawei is between six months and one year ahead of Sweden's Ericsson in terms of the quality of its 5G equipment.
The number two mobile networks equipment manufacturer, Finland's Nokia, is said to be even further behind.
Many want to avoid the Chinese but they are currently the most advanced in the area,'' said Victor Marcais, a telecoms and media specialist at Roland Berger consultancy.
''Huawei has moved in the past few years from being 'low cost' option to becoming the 5G Leader.
With respectful dedication to Globalisation, Leaders, Students, Professors and Teachers of the world.
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Good Night and God Bless
SAM Daily Times - the Voice of the Voiceless
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