BB likely to get back $15m of reserve heist money

Bangladesh Bank (BB) is expecting to get back  US$15 million soon  out of the US$101 million reserve heist money from Philippines as the official process in this regard is now at final stage, reports BSS.
BB has already sent affidavit and other necessary documents to the offices concerned of Philippines as it will have to apply to a court of Philippines through affidavit from August 16 to 30, the central bank said in a statement yesterday. The Department of Justice of Philippines will now apply to the court for returning back the money under Mutual Legal Assistance (MLA) Request sent by Bangladesh, said the statement signed by joint director Mahua Mohsin.
At the same time, BB has constantly been maintaining contact with the Department of Justice and Anti-Money Laundering Council (AMLC) of Philippines. Besides, other related documents were supplied from BB to send to Bangladesh embassy in Philippines through diplomatic channel. According to BB, a joint motion was filed with a court by Filipino-Chinese businessman Kim Wong and the AMLC to return back $15 million returned by Kim Wong. 
The court issued Partial Forfeiture Order on July 1 that created the scope for BB to get back the amount.
BB said computer hackers attempted to steal $1, 926 million more from Bangladesh's account at the New York Fed in February this year. But the thieves were able to move about $81 million to accounts in the Philippines and another $20 million to a bank in Sri Lanka.
The transfer of Bangladesh funds to Sri Lanka could be stopped following a spelling error by the hackers. BB was able to bring bank $20 million from Sri Lanka.
As part of the move to recover the stolen money from Philippines, BB governor Fazle Kabir spoke to the governor of the central bank of Philippines over telephone several times and requested the governor to take actions against the Rizal Commercial Banking Corporation (RCBC) where hackers deposited the stolen money in four accounts. The BB governor has also sent letter twice to the governor of the central bank of Philippines.

BB likely to get back $15m of reserve heist money

Bangladesh Bank (BB) is expecting to get back US$15 million soon out of the US$101 million reserve heist money from Philippines as the official process in this regard is now at final stage, reports BSS. BB has already sent affidavit and other necessary documents to the offices concerned of Philippines as it will have to apply to a court of Philippines through affidavit from August 16 to 30, the central bank said in a statement yesterday. The Department of Justice of Philippines will now apply to the court for returning back the money under Mutual Legal Assistance (MLA) Request sent by Bangladesh, said the statement signed by joint director Mahua Mohsin. At the same time, BB has constantly been maintaining contact with the Department of Justice and Anti-Money Laundering Council (AMLC) of Philippines. Besides, other related documents were supplied from BB to send to Bangladesh embassy in Philippines through diplomatic channel. According to BB, a joint motion was filed with a court by Filipino-Chinese businessman Kim Wong and the AMLC to return back $15 million returned by Kim Wong. The court issued Partial Forfeiture Order on July 1 that created the scope for BB to get back the amount. BB said computer hackers attempted to steal $1, 926 million more from Bangladeshs account at the New York Fed in February this year. But the thieves were able to move about $81 million to accounts in the Philippines and another $20 million to a bank in Sri Lanka. The transfer of Bangladesh funds to Sri Lanka could be stopped following a spelling error by the hackers. BB was able to bring bank $20 million from Sri Lanka. As part of the move to recover the stolen money from Philippines, BB governor Fazle Kabir spoke to the governor of the central bank of Philippines over telephone several times and requested the governor to take actions against the Rizal Commercial Banking Corporation (RCBC) where hackers deposited the stolen money in four accounts. The BB governor has also sent letter twice to the governor of the central bank of Philippines.