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BB reserve heist: Probe report submission delayed for 37th time

  • Published at 04:27 pm September 17th, 2019
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The Bangladesh Bank building at Motijheel Mehedi Hasan/ Dhaka Tribune

Bangladesh Bank was able to retrieve only about $15 million from the Philippines

A Dhaka court has fixed a new date to submit the probe report over the Bangladesh Bank (BB) reserve heist case that took place in 2016.

The placing of a new date has delayed the probe report submission for a consecutive 37th time.

Dhaka Metropolitan Magistrate Sadbir Yasir Ahsan Chowdhury set October 20 as the new date for submission, as the investigation agency Criminal Investigation Department (CID) failed to submit its report on Tuesday.

Hackers stole $101 million from BB’s accounts with the Federal Reserve Bank of New York in February 2016. Of the stolen amount, $81 million was transferred to four accounts with Rizal Commercial Banking Corporation (RCBC) in Manila, and another $20 million to a bank in Sri Lanka.

However, the transfer of $20 million to Sri Lanka failed because of a spelling error by the hackers. Later, the BB was able to retrieve only 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 case was filed under the Money Laundering Act, Information and Communication Technology Act, and Bangladesh Penal Code.