University Grants Commission

US plans to build cases against North Korea

US newspaper Wall Street Journal on Wednesday reported that US federal prosecutors were building potential cases that would accuse North Korea of directing the theft of $81 million from Bangladesh Bank's account with the Federal Reserve Bank of New York last year. The allegation was made against North Korea as the hermit kingdom is increasingly starved for cash. The United Nations has stepped up sanctions against Pyongyang and is examining North Korean front companies in China that allow it to secure much-needed foreign currency. The Journal reported that the current cases being pursued may not include charges against North Korean officials, but would likely implicate North Korea, with the United States accusing a foreign government of orchestrating one of the biggest bank robberies of modern times.
Meanwhile, US based Foreign Policy magazine on Tuesday reported that a senior official from US National Security Agency (NSA) publicly said that North Korean computer hackers were behind a multi-million dollar heist targeting Bangladesh’s central bank last year.
NSA- the premier spy agency of US which has far greater insight into North Korean cyber operations than any other agencies in the world- however studiously avoided any reference to what evidence the agency has collected on the Bangladeshi heist. The allegation against North Korea

was made by NSA Deputy Director Rick Ledgett who appeared to say North Korea was the culprit during a cryptic exchange at a Washington forum on Tuesday.
Speaking at an Aspen Institute roundtable, Ledgett pointed out that private sector researchers had linked the digital break-in in Bangladesh to the 2014 hack on Sony Pictures, which the U.S. government attributed to Pyongyang.
“If that linkage from the Sony actors to the Bangladeshi bank actors is accurate- that means that a nation state is robbing banks,” Ledgett said. “That’s a big deal.”
The moderator of the event, former Assistant Attorney General for National Security John Carlin, quickly followed up: “Do you believe that there are nation states now robbing banks?” Ledgett offered a simple answer, “I do.” The alleged attempt by North Korean hackers to break into a bank and attempt to steal just short of $1 billion alarmed many in the cybersecurity world and marked a significant escalation of its behavior in cyberspace. Computer security experts described the heist as technically sophisticated and one that cemented Pyongyang as one of the world’s most capable-and daring- actors in cyberspace. Computer hackers attempted to steal $951 million from the Bangladesh bank account at the Federal Reserve Bank of New York, but only got away with $81 million as the US bank managed to stop 30 of the 35 transactions.
Five of the transactions amounting to $81 million went to fictitious accounts at the Rizal Commercial Banking Corpin Manila Philippines. Philippines in November 16 last year returned $15 million to the central bank.
The Finance Minister Abul Mal Abdul Muhith on January 16 said that the probe report on US $101 million cyber heist form Bangladesh treasury account with New York Federal Reserve Bank will be made public after smooth recovery process of the heist money.
The Finance Minister was talking with journalists after several meetings with groups, including a World Bank team led by Finance and Markets Global Practice Director of the World Bank Group Sebastain-A Molineus. Dr Mohammad Farasuddin led three-member investigation committee, formed by Finance Ministry submitted its interim report on April 20, 2016.
Later, on May 30, last year, after 40 days, it submitted the full and final report to the Finance Minister. AMA Muhith was set to release the full probe report on September 22, 2016, but on September 21 he said the report would not be published in the interest of getting back the money.

University Grants Commission

US plans to build cases against North Korea

US newspaper Wall Street Journal on Wednesday reported that US federal prosecutors were building potential cases that would accuse North Korea of directing the theft of $81 million from Bangladesh Banks account with the Federal Reserve Bank of New York last year. The allegation was made against North Korea as the hermit kingdom is increasingly starved for cash. The United Nations has stepped up sanctions against Pyongyang and is examining North Korean front companies in China that allow it to secure much-needed foreign currency. The Journal reported that the current cases being pursued may not include charges against North Korean officials, but would likely implicate North Korea, with the United States accusing a foreign government of orchestrating one of the biggest bank robberies of modern times. Meanwhile, US based Foreign Policy magazine on Tuesday reported that a senior official from US National Security Agency (NSA) publicly said that North Korean computer hackers were behind a multi-million dollar heist targeting Bangladeshs central bank last year. NSA- the premier spy agency of US which has far greater insight into North Korean cyber operations than any other agencies in the world- however studiously avoided any reference to what evidence the agency has collected on the Bangladeshi heist. The allegation against North Korea was made by NSA Deputy Director Rick Ledgett who appeared to say North Korea was the culprit during a cryptic exchange at a Washington forum on Tuesday. Speaking at an Aspen Institute roundtable, Ledgett pointed out that private sector researchers had linked the digital break-in in Bangladesh to the 2014 hack on Sony Pictures, which the U.S. government attributed to Pyongyang. If that linkage from the Sony actors to the Bangladeshi bank actors is accurate- that means that a nation state is robbing banks, Ledgett said. Thats a big deal. The moderator of the event, former Assistant Attorney General for National Security John Carlin, quickly followed up: Do you believe that there are nation states now robbing banks? Ledgett offered a simple answer, I do. The alleged attempt by North Korean hackers to break into a bank and attempt to steal just short of $1 billion alarmed many in the cybersecurity world and marked a significant escalation of its behavior in cyberspace. Computer security experts described the heist as technically sophisticated and one that cemented Pyongyang as one of the worlds most capable-and daring- actors in cyberspace. Computer hackers attempted to steal $951 million from the Bangladesh bank account at the Federal Reserve Bank of New York, but only got away with $81 million as the US bank managed to stop 30 of the 35 transactions. Five of the transactions amounting to $81 million went to fictitious accounts at the Rizal Commercial Banking Corpin Manila Philippines. Philippines in November 16 last year returned $15 million to the central bank. The Finance Minister Abul Mal Abdul Muhith on January 16 said that the probe report on US $101 million cyber heist form Bangladesh treasury account with New York Federal Reserve Bank will be made public after smooth recovery process of the heist money. The Finance Minister was talking with journalists after several meetings with groups, including a World Bank team led by Finance and Markets Global Practice Director of the World Bank Group Sebastain-A Molineus. Dr Mohammad Farasuddin led three-member investigation committee, formed by Finance Ministry submitted its interim report on April 20, 2016. Later, on May 30, last year, after 40 days, it submitted the full and final report to the Finance Minister. AMA Muhith was set to release the full probe report on September 22, 2016, but on September 21 he said the report would not be published in the interest of getting back the money.