Bangladesh Bank expects to get back $30m heist money in two to three months


Bangladesh Bank expects to get back US$30 million more of its heisted reserve from the Philippines within the next two to three months.

‘Bangladesh has already retrieved approximately $15.25 million from the Philippines. We are expecting to get back $30 million more within next two to three months as completing the legal process this time will be easy than before,’ Ajmalul Hossain, a member of BB’s legal team said.

Under an international convention, the department of justice of the Philippines is providing all legal assistances to recover the heist money as Bangladesh sent a letter to Philippines government to provide mutual legal assistant, said this senior advocate of Bangladesh Supreme Court.

‘We are working mutually to get back the whole money as early as possible,’ said Ajmalul, lead consultant of BB’s strengthening project.

BB’s deputy governor Abu Hena Mohd Razee Hassan said the process of recovering the reserve heist money will be accelerated further as a delegation led by law, justice and parliamentary affairs minister Anisul Huq will go to the Philippines this week to look after the issue.

Hackers stole a total of $101 million from Bangladesh Bank’s account at the New York Fed on February 4 this year. Of the amount, $81 million was transferred to four accounts at Rizal Commercial Banking Corp in Manila and another $20 million to a bank in Sri Lanka. But the transferring of $20 million to Sri Lanka was failed because of a spelling error by the hackers.

source: New Age


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