Bangladesh slams `incompetent' central bank after hack theft
Bangladesh's government lashed out at the central bank in a rare public split as tensions escalate after hackers stole about $101 million from its foreign reserves. Finance Minister Abul Maal Abdul Muhith vowed to take action against Bangladesh Bank after it failed to inform the government immediately when the funds went missing from an account with the Federal Reserve Bank of New York last month. Other transfers totaling $850 million were blocked, according to the central bank.
"Bangladesh Bank has the audacity not to inform me," Muhith told reporters in Dhaka on Sunday. "I am very unhappy about it. The handling of the matter by Bangladesh Bank is very incompetent." Subhankar Saha, a spokesman for Bangladesh Bank, declined to comment on Muhith's remarks when reached by phone on Monday. The cyber heist has rattled authorities from Bangladesh to the Philippines, where much of the stolen money ended up. Both governments are cooperating on investigations as they look to figure out how to prevent a similar theft in the future. Bangladesh Bank is investigating eight officials who carry out foreign exchange transactions by rotation, according to a Finance Ministry official who asked not to be identified because he's not authorized to speak about the probe.