Bangladesh to sue Fed over miss­ing $100m

The Pak Banker - - COMPANIES/BOSS -

Bangladesh's govern­ment said it was plan­ning to sue the Fed­eral Re­serve Bank of New York af­ter hack­ers al­legedly stole nearly $100 mil­lion from a re­serve ac­count. Sus­pected Chi­nese hack­ers stole the money from Bangladesh's for­eign ex­change ac­count on Fe­bru­ary 5, ac­cord­ing to a Dhaka cen­tral bank of­fi­cial and me­dia re­ports.

But the US re­serve bank, which man­ages the Bangladesh Bank re­serve ac­count, de­nies its sys­tems were breached.

"We've heard that Fed­eral Re­serve Bank of New York has com­pletely de­nied their re­spon­si­bil­ity. They don't have any right," Fi­nance Min­is­ter A.M.A. Muhith told re­porters in Dhaka.

"Of course, we'll file a case against them. We have kept the money with them. They are re­spon­si­ble," he said, when asked what ac­tion his govern­ment would take against the bank. An of­fi­cial told me­dia the stolen money was il­le­gally trans­ferred on­line to the Philip­pines and Sri Lanka. Bangladesh Bank, the cen­tral bank, on Mon­day said it had re­cov­ered part of the money and was in con­tact with the Philip­pines' anti-money laun­der­ing au­thor­i­ties to track down the rest.

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