Government Policy

BB team in Manila to recover heist money

A two-member team of Bangladesh Bank (BB) went to Manila yesterday to bring back US$15.25 million of the total $101 million heist money stolen from the central bank's account with the New York Federal Reserve Bank in February this year.

"The team will work on a process to bring back $15.25 million stolen money," BB deputy governor Abu Hena Mohammad Razee Hassan told BSS here today. Earlier, he said Bangladesh would get back US$15.25 million of its stolen reserves from the Philippines this month.

"A Manila court has already cleared the 'execution suit' and asked the authority concerned to complete the whole procedures of sending back the money within the next 30 days," Razee said adding, "We are expecting that the whole process will be completed very soon and the money will be sent back this month."

According to BB, the recovered amount is now at the Philippines central bank vault.

After the return of the money from Manila, the total recovered amount will stand at $35.25 million as BB had earlier brought back $20 million from Sri Lanka.

The hackers stole this money from Bangladesh's account at the New York Fed and transferred $81 million to four accounts at Rizal Commercial Banking Corp in Manila and another $20 million to a bank in Sri Lanka. But the transfer of $20 million to Sri Lanka was failed because of a spelling error by the hackers.

Source: Bangladesh Sangbad Sangstha (BSS)