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Recover Stolen Cash to be Helped by Bangladesh Requests New York Fed, Philippines

The brand new governor of the central bank in Bangladesh has sent formal letters to the New York Fed, along with central bank and money laundering leaders in the Philippines, requesting them to help regain its purloined $81 million, a senior central bank official.

Unknown hackers tried to steal $951 million from its account in the Federal Reserve Bank of New York, which it uses for international resolutions and violated the computer systems of Bangladesh Bank in February.

Kabir requested the Fed to inquire whether it had any involvement in the heist or if there had been any lapses, the official said.

Kabir sent individual letters to the ambassador of Bangladesh at its own permanent representative, and the UN headquarters, encouraging them to pursue the NY Fed.

Atiur Rahman, the old central bank governor, stepped down earlier this month after details emerged in the Philippines that $30 million of the money was delivered to a casino junket operator in Manila in cash, while the remainder went to two casinos.

“In his letters the new governor sought all sort of assistance from them to recover the stolen cash as we’re following multiple attempts for the benefit of the nation,” the official said.

Last week Bangladesh also officially sought help from the US Federal Bureau of Investigation to track down the cyber-criminals.

Bangladesh has made law firms to consider its options vis-a-vis the NY Fed.

“We’ll act according to its recommendations.”

Before this month Muhith said Dhaka might resort to suing the Fed to regain the cash: “The Fed must take responsibility,” he said.

by admin on March 29th, 2016 in Technology
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