BB’s ‘coordinated move’ to recover stolen money

Bangladesh Bank says it has launched a "coordinated move" to recover the $101 million that was lost in cyber heist from the central bank's account with US' Federal Reserve Bank.

Letters have been issued to the Federal Reserve Bank, to the Bangladesh representative in United Nations and to Philippines authorities to help recover the stolen money.

"The new governor has requested the president of Federal Reserve Bank's board of governors to help recover the stolen funds," Shubhankar Saha, a spokesperson for Bangladesh Bank told The Daily Star.

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Also, according to him, the governor requested the US bank to investigate whether the Federal Reserve Bank had any involvement with the cyber heist.

He said another letter was sent to the Bangladesh's permanent representative in the United Nations and separate letters issued to the governor and head of anti-money laundering council of Philippines in this regard.

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"We are trying to recover the money in a coordinated method," said Saha.

Bangladesh's central bank lost $101 million from its foreign currency reserve account with the Federal Reserve Bank of New York to global cyber criminals on February 5.

READ MORE: Hackers bugged BB system in Jan

The heist, that came to surface after a month, irked the government and eventually led to major changes in the top management of Bangladesh Bank.