Two years have gone by since the Bangladesh Bank cyber heist, but Bangladesh could not bring back the major chunk of the $81 million wired to the Philippines from BB's account with the New York Fed.
Bangladesh's central bank is unlikely to extend the contract of US cyber security firm FireEye to investigate the electronic theft of $81 million of its money, sources at the bank say, citing high costs as one of the factors.
The government should carry out further investigation to find out whether the suspected Bangladesh Bank officials were really involved in the $101 million cyber heist, says Mohammed Farashuddin, head of the three-member body that probed the theft.
A government panel probing the $101 million Bangladesh Bank heist blamed the theft on SWIFT again and hinted for the first time at the involvement of central bank officials in its final report submitted yesterday.
The Federal Reserve Bank of New York, Bangladesh Bank and SWIFT have vowed to work together to recover the $81 million that Bangladesh lost in a reserve heist three months ago.
In the years leading up to hackers stealing $81 million from a Bangladesh central bank account at the Federal Reserve Bank of New York, senior Fed security officials examined the risk of such an attack - but judged the prospect unlikely, bank sources said.
Finance Minister AMA Muhith says that the government is determined to bring all those involved in stealing money from the central bank’s account with Federal Reserve Bank of New York – be it foreigners and local.
Bangladesh Bank's prompt actions averted large scale hacking into its account with the New York Fed, Prime Minister Sheikh
The Department of Justice (DOJ) assures that the money stolen by hackers from the Bangladesh Bank will be returned to its government as soon as possible but procedures have to be followed.
Finance Minister AMA Muhith says that the government is determined to bring all those involved in stealing money from the central bank’s account with Federal Reserve Bank of New York – be it foreigners and local.
Bangladesh Bank's prompt actions averted large scale hacking into its account with the New York Fed, Prime Minister Sheikh
The Department of Justice (DOJ) assures that the money stolen by hackers from the Bangladesh Bank will be returned to its government as soon as possible but procedures have to be followed.
Philippine banks are seen to reexamine vulnerabilities to potential fraudsters in order to avoid a repeat of the $81-million money-laundering scandal that has now become a global spectacle.
Bangladesh's central bank was vulnerable to hackers because it did not have a firewall and used second-hand, $10 switches to network computers connected to the SWIFT global payment network, an investigator into one of the world's biggest cyber heists says.
A government-formed committee probing the US$101 million heist from Bangladesh central bank account with Federal Reserve Bank of New York submits its preliminary report.
Three messages sent by the Bangladeshi central bank to the Rizal Commercial Banking Corp. (RCBC) on the morning of February 9, alerting the Yuchengco-controlled financial institution to the dubious provenance of the $81 million that was later revealed to be the largest money laundering caper in Philippine history.
Rizal Commercial Banking Corporation (RCBC) says the bank could have held the stolen US$81 million if only the Bangladesh Bank sent "high priority messages."
The Philippines must make sure casinos are covered by anti-money laundering legislation, the World Bank says, joining calls for the government to better regulate its gambling industry after stolen millions from Bangladesh found their way to Manila.
A three-member team of Criminal Investigation Department (CID) will visit Philippines tomorrow night to coordinate with Philippine authorities on the money-laundering case over heist at Bangladesh Bank reserve account.
