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  • Last Update : 10:24 am

Bangladesh Bank hopes to recover $30m more from cyber heist

  • Published at 07:23 am November 14th, 2016
  • Last updated at 12:33 pm November 14th, 2016
Bangladesh Bank hopes to recover $30m more from cyber heist
Hackers used stolen Bangladesh Bank credentials to try to send three dozen SWIFT messages to transfer nearly $1 billion from its Fed account. They succeeded in transferring $81 million to four accounts at Rizal Commercial Banking Corp in Manila. Most of the money was laundered through casinos in Manila. On Friday, Philippine authorities began the process of handing over $15.25 million to Bangladesh. "We are hoping to get back around $30 million which remains frozen," Bangladesh Bank deputy governor Abu Hena Mohammad Razee Hassan, who heads its financial intelligence unit, told Reuters. A Bangladesh team was likely to visit the Philippines at the end of the month to accelerate the process, he said. "We are expecting to get a favourable verdict from Philippines’ Supreme Court as it has already been proved that $81 million is our money," said another Bangladesh Bank official, who asked not to be identified because he was not authorized to talk to the media.
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