Taskforce formed to recover stolen Bangladesh Bank reserve

The inter-agency task force includes one member each from the Prime Minister’s Office, the Attorney General’s Office, the ministries for foreign and home affairs and the central bank.

The finance ministry’s Bank and Financial Institution Division on Wednesday gave the order to form the committee with its Secretary Md Yunusur Rahman as convener.

The director general of the central bank’s Bangladesh Financial Intelligence Unit will be member secretary. 

Bangladesh Bank's credentials for the SWIFT messaging system, which banks around the world use for secure financial communication, appeared to have been stolen by hackers who sent multiple requests to   Federal Reserve Bank of New York to transfer money from the central bank’s account.

Four requests to transfer a total of about $81 million to the Philippines went through, but a fifth, for $20 million, to a Sri Lankan non-profit organisation was held up because the hackers misspelled the name of the NGO, Shalika Foundation.

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