Stealing of $101 million from central bank account

Recovery underway: BB

Bangladesh Bank yesterday said that progress was made to recover $101 million, stolen by hackers from Bangladesh Bank's account with the US Federal Reserve Bank in New York. “The central bank continues to recover the stolen money and there is progress in this regard” Subhankar Saha, BB spokesperson and executive director told the media. He came up with the remarks when his attention was drawn to a fresh attempt by hackers to steal another $870 million after the first theft of $101 million. Bangladesh authorities came to know about the new attempt when a Pilipino newspaper published stories in this regard. Subhankar, also an executive director of Bangladesh Bank, said the hacked amount of $101 million was transferred from the Federal Reserve Bank following a number of mis-instructions. But when the Federal Reserves received the security and anti-money laundering alerts, he said, it immediately stopped transferring money against the remaining mis-instructions. "So, there’s no confusion in this regard." "The agencies in the Philippines are sincerely working to recover the money. This gives us hope that we'll be able to recover the whole amount stolen from the US Federal Reserve Bank,” said the BB spokesman. He also informed that there is progress in the efforts of the forensic team that has been working hard in this regard. “We hope there will be fruitful progress soon.”  
Meanwhile, Bangladesh Bank (BB) hoped that it would soon recover the money stolen from its reserve account with the Federal Reserve Bank of New York, reports BSS.
“We can now say more firmly that we would be able to recover the hacked money soon as the Philippines anti-money laundering authority made significant progress to this effect,” Subhankar Saha, executive director and spokesperson of the central bank, told BSS on Thursday.
Without elaborating the progress, he said BB had been maintaining a constant communication with all authorities concerned in the Philippines to gather more and specific information about the hacking. Earlier, AFM Asaduzzaman, another spokesman for BB, said the central bank had obtained “sufficient proof” that money from its reserve account was electronically diverted to the banks in the Philippines. BB in a statement on Monday said that Bangladesh’s Financial Intelligence Unit (BFIU) was cooperating with anti-money-laundering agencies in the Philippines to trace funds hacked from a reserve held in the US. It also said that a portion of the hacked money was recovered with the help of authorities in Manila. Meanwhile, the central bank appointed Rakesh Asthana, a World Bank cybercrime expert, to bolster the probe into its US account hacking. Besides, the BB board decided to hire more experts, if necessary, for recovering th stolen money. Saha said all the banks in the country were also advised to follow all kinds of cyber-security measures to protect their money deposited with their overseas Nostro accounts. He also said BB would check the cyber security of the commercial banks to ensure that their security system is foolproof.

Stealing of $101 million from central bank account

Recovery underway: BB

Bangladesh Bank yesterday said that progress was made to recover $101 million, stolen by hackers from Bangladesh Banks account with the US Federal Reserve Bank in New York. The central bank continues to recover the stolen money and there is progress in this regard Subhankar Saha, BB spokesperson and executive director told the media. He came up with the remarks when his attention was drawn to a fresh attempt by hackers to steal another $870 million after the first theft of $101 million. Bangladesh authorities came to know about the new attempt when a Pilipino newspaper published stories in this regard. Subhankar, also an executive director of Bangladesh Bank, said the hacked amount of $101 million was transferred from the Federal Reserve Bank following a number of mis-instructions. But when the Federal Reserves received the security and anti-money laundering alerts, he said, it immediately stopped transferring money against the remaining mis-instructions. So, theres no confusion in this regard. The agencies in the Philippines are sincerely working to recover the money. This gives us hope that well be able to recover the whole amount stolen from the US Federal Reserve Bank, said the BB spokesman. He also informed that there is progress in the efforts of the forensic team that has been working hard in this regard. We hope there will be fruitful progress soon. Meanwhile, Bangladesh Bank (BB) hoped that it would soon recover the money stolen from its reserve account with the Federal Reserve Bank of New York, reports BSS. We can now say more firmly that we would be able to recover the hacked money soon as the Philippines anti-money laundering authority made significant progress to this effect, Subhankar Saha, executive director and spokesperson of the central bank, told BSS on Thursday. Without elaborating the progress, he said BB had been maintaining a constant communication with all authorities concerned in the Philippines to gather more and specific information about the hacking. Earlier, AFM Asaduzzaman, another spokesman for BB, said the central bank had obtained sufficient proof that money from its reserve account was electronically diverted to the banks in the Philippines. BB in a statement on Monday said that Bangladeshs Financial Intelligence Unit (BFIU) was cooperating with anti-money-laundering agencies in the Philippines to trace funds hacked from a reserve held in the US. It also said that a portion of the hacked money was recovered with the help of authorities in Manila. Meanwhile, the central bank appointed Rakesh Asthana, a World Bank cybercrime expert, to bolster the probe into its US account hacking. Besides, the BB board decided to hire more experts, if necessary, for recovering th stolen money. Saha said all the banks in the country were also advised to follow all kinds of cyber-security measures to protect their money deposited with their overseas Nostro accounts. He also said BB would check the cyber security of the commercial banks to ensure that their security system is foolproof.