South Asia | Bangladesh bank boss quits over cyber heist; Chinese man in Manila gets $30m

Bangladesh bank boss quits over cyber heist; Chinese man in Manila gets $30m

March 15, 2016 6:22 AM (UTC+8)

 

(From Reuters)

Bangladesh’s central bank governor resigned on Tuesday over the theft of $81 million from the bank’s U.S. account, as details emerged in the Philippines that $30 million of the money was delivered in cash to a casino junket operator in Manila.

Atiur Rahman
Atiur Rahman

The rest of the money hackers stole from the Bangladesh Bank’s account at the New York Federal Reserve went to two casinos, officials told a Philippines Senate hearing into the scandal.

They said a mix of dollars and Philippine pesos was sent by a foreign exchange broker to the ethnic Chinese junket operator over several days, a haul that would have been made up of at least 780,000 banknotes.

Unknown hackers last month breached the computer systems of Bangladesh Bank and attempted to steal $951 million from its Fed account, which it uses for international settlements. They managed to transfer $81 million to entities in the Philippines.

Bangladesh Bank officials have said there is little hope of apprehending the perpetrators and recovering the money would be difficult and could take months.

In Dhaka, central bank governor Atiur Rahman said he had resigned to set an example in a country where there is little precedence of accountability and to uphold the image of the institution.

Rahman defended his record at the central bank, saying he was proud of his achievements there.

He described the heist as an “earthquake” and said the bank had promptly informed intelligence agencies in Bangladesh and abroad and also brought in international experts to investigate. Read More

 

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