Bangladesh Bank: The Monetary cyber heist

Bangladesh Bank also uses such a secure code to communicate with each other. But the hackers stole credentials used by BB for the SWIFT messaging.

Investigation in Bangladesh, Philippines and USA
Bangladesh Bank hired World Informatix Cyber Security and FireEye Company to conduct the investigation. The cyber security experts explore that “footprints” and “malware” were installed by hackers in the banking system nearly in January 2016 to monitor and gather information about international payment and transactions.

National Bureau of Investigation (NBI) of the Philippines launched a probe to mention who have allegedly played a key role to transfer the illicit funds. The NBI coordinates with relevant government agencies and the NBI also included the country’s Anti-Money Laundering Council (AMLC). The AMLC started investigation on February 19, 2016 of bank accounts linked to the junket operator.

US-based companies, FireEye’s forensics division and World Informatix Cyber Security, are investigating the hacking case. According to them, the perpetrators’ familiarity of Bangladesh Bank was probably gained by spying.

The Bangladesh government is suing the Federal Reserve Bank of New York in a bid for recovering the stolen funds.

Additionally, Bangladesh Bank governor ‘Atiur Rahman’ resigned from governor post due to the heist and money laundering. On March 15, 2016, Atiur Rahman submitted a resignation letter to Prime Minister Sheikh Hasina. Atiur Rahman stated that he resign for the sake of his country’s goodness.

Money Recover

Until now, the Bangladesh Bank was able to recover $20 million from Sri Lanka and $18 million from the Philippines. The Bangladesh Bank is still trying to recover the rest of the stolen money with the help of the Federal Reserve Bank, SWIFT and other organization.