As per US law, money-laundering cases have to be filed within three years of the crime being committed, meaning Bangladesh Bank must proceed with legal actions by February 5
Finance Minister AHM Mustafa Kamal yesterday said that Bangladesh Bank (BB) is preparing to file a lawsuit with a New York (NY) court within the current month, to recover the full amount of money stolen from the central bank’s account with the Federal Reserve Bank of New York.
“We are taking preparations to file the case within this month. A Bangladeshi lawyer and a lawyer from the US will jointly file the case. However, a final decision about who the case will be filed against, has not yet been taken,” he said, while speaking to journalists after a meeting with officials of the Financial Institutions Division and BB at the Finance Ministry.
Kamal added that the two lawyers will decide who will be sued as the defendants in the lawsuit.
Among others, Financial Institutions Division Secretary M Ashadul Islam and BB Governor Fazle Kabir, were also present at the meeting.
As per US law, money-laundering cases have to be filed within three years of the crime being committed, meaning Bangladesh Bank must proceed with legal actions by February 5.
Hackers stole a total $101 million from Bangladesh’s account at the New York Fed in February 2016. $81 million of the stolen was transferred to four accounts at the Rizal Commercial Banking Corp (RCBC) in Manila and another $20 million to a bank in Sri Lanka.
An amount to the tune of $20 million was later recovered from a Sri Lankan bank, while the remaining $81 million which landed in RCBC, is yet to be retrieved.