Bangladesh to sue US Federal Reserve
Asif Showkat Kollol

The government will file case in the international court against the Federal Reserve of United States of America to recover funds hacked from foreign exchange reserve of Bangladesh Bank in US, Finance Minister AMA Muhith has said.

The minister was briefing reporters at his secretariat office on Tuesday.

“The fault that caused the hacking was in the Federal Reserve of United States, so we will file a case in the international court against the US Fed,” he said.

Muhith also said: “I know that US Fed has already denied that allegation.”

Replying to a question, the finance minister said: “Bangladesh Bank will give explanation about the funds hacked from its foreign exchange reserve in US but the central bank has no fault regarding the hacked funds on February 5.”

Bangladesh Bank Monday said its account at the US Federal Reserve was hacked and money was stolen, but a portion of the funds was traced to the Philippines and recovered.
The BB statement did not provide any information on the figure of stolen money.

However, several media outlets across the world reported that around $100milion was hacked from BB's US Fed Reserve.

The Inquirer.net, published from Philippines, reported that hackers had transferred $100m from the Bangladesh Bank’s foreign exchange reserve to Philippines.


Reda Next: New York Fed denies BB account breach


 


Bangladesh Bank fund heist timeline

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