South Asia | Bangladesh central bank says US account hacked; Federal Reserve denies breach

Bangladesh central bank says US account hacked; Federal Reserve denies breach

March 7, 2016 4:40 PM (UTC+8)

 

(From Reuters)

Bangladesh’s central bank said on Monday its U.S. account had been hacked and that money had been stolen from it, a claim that its U.S. counterpart, the Federal Reserve, denied.

Bangladesh Bank said it had traced some of the money to the Philippines and that it was working with anti-money laundering authorities there. Some of the funds were recovered, it said.

Bangladesh central bank logo
Bangladesh central bank logo

The central bank did not say how much money had been stolen and a spokesman declined to comment.

The New York Federal Reserve, where Bangladesh has an account along with other foreign central banks, later on Monday denied that its systems were breached.

“To date, there is no evidence of any attempt to penetrate Federal Reserve systems in connection with the payments in question, and there is no evidence that any Fed systems were compromised,” a New York Fed spokeswoman said in response to queries about the Bangladesh claim.

The U.S. central bank’s New York branch did not say whether funds had been drained from the account, or whether it was investigating the claim by its overseas counterpart.

Bangladesh’s central bank has around $28 billion in foreign currency reserves. Read more

 

Comments