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BB reserve heist: Probe report on Sept 17

  • Published at 07:16 pm August 1st, 2019
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The Bangladesh Bank building at Motijheel Mehedi Hasan/ Dhaka Tribune

CIA fails to submit probe report before court

A Dhaka court has set September 17 to submit probe report in the case filed over Bangladesh Bank (BB) reserve heist that took place in 2016.

Dhaka Metropolitan Magistrate Sadbir Yasir Ahsan Chowdhury set the new date as the Criminal Investigation Agency (CID) could not submit the report on Thursday.

In February 2016, hackers stole $101 million from Bangladesh Bank accounts with the Federal Reserve Bank of New York.

Of the amount, $81 million was transferred to four accounts with RCBC in Manila and another $20 million to a bank in Sri Lanka.

But, the transfer of $20 million to Sri Lanka failed because of a spelling error by the hackers. Later, the BB authority was able to retrieve about $15 million from the Philippines.

Bangladesh Bank Deputy Director (accounts and budgeting) Zobayer Bin Huda filed the case with Motijheel police station on March 15, 2016.

The Criminal Investigation Department (CID) is now probing the case.

The cyber-heist created ripples around the world when Bangladesh Bank was compromised for a grand total of USD $951 Million.

However, many of the fraudulent transfer requests were eventually blocked, $101 million was successfully siphoned off into multiple foreign accounts, making this the single largest cyber heist in history.

Bangladesh Bank has also entrusted World Informatix Cyber Security (WICS) with the investigation mandate for this heist, providing incidence response and remediation.