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Fazle Kabir to become new BB governor: Muhith

Former secretary of Finance Division Fazle Kabir will be made new governor of Bangladesh Bank, Finance Minister AMA Muhith said today. fazle-kabir-wbKabir, now in Washington, will join his new post on March 18, Muhith told reporters at the Secretariat in Dhaka. The Prime Minister’s Office (PMO) is expected to make announcement in this regard around 3:00pm, added the minister.
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Philippines prepares charges in alleged hacking of BB

The Philippines’ Anti-Money Laundering Council is preparing charges against a number of people allegedly involved in the illegal transfer of more than $80 million from a Bangladesh Bank account at the Federal Reserve Bank of New York to a number of Philippine accounts. “There is a clear violation of our anti-money-laundering law,” council chairman Amando Tetangco, who is also the governor of the Philippines’ central bank, told The Wall Street Journal in a brief interview late Saturday. He refused to identify those who may be charged but said more details would be revealed during Senate hearings on March 15. “Just wait for the hearings on Tuesday,” said Mr. Tetangco, referring to his scheduled

Malware suspected in BB heist: officials

Investigators suspect unknown hackers installed malware in the Bangladesh central bank’s computer systems and watched, probably for weeks, for how to go about withdrawing money from its U.S. account, two bank officials briefed on the matter said on Friday. More than a month after hackers breached Bangladesh Bank’s systems and attempted to steal nearly $1 billion from its account at the Federal Reserve Bank of New York, cyber security experts are trying to find out how the hackers got in. FireEye Inc’s Mandiant forensics division is helping investigate the cyber heist, which netted

SWIFT working with BB after hack

The SWIFT bank messaging service said in a statement on Friday that it was working with Bangladesh's central bank "to resolve an internal operational issue at the central bank." bbIt added that "SWIFT's core messaging services were not impacted by the issue and continued to work as normal." A SWIFT spokeswoman declined to elaborate on the brief statement, which was issued in the wake of a massive cyber heist at Bangladesh's central bank.

Criminals in BB heist likely studied bank’s inner workings

The perpetrators of a $100 million digital heist at Bangladesh’s central bank had deep knowledge of the institution’s internal workings, likely gained by spying on bank workers, security experts said. Unknown hackers breached Bangladesh Bank in early February, stole credentials for payment transfers and then ordered transfers out of a Federal Reserve Bank of New York account held by Bangladesh Bank (BB), according to Bangladesh Bank officials. Bangladesh government officials blamed the Fed for the attack when they disclosed the loss. The New York Fed responded on Tuesday saying there was no evidence its systems were compromised in the attack, one of the biggest bank thefts in history. The Fed said it followed normal procedures when responding to requests that appeared to be

Chinese hackers accused of stealing $ 100m from BB

The Bangladesh central bank says it is working to recover some $100 million allegedly stolen by Chinese hackers from an account at the Federal Reserve Bank of New York. Authorities have given few details about how the money disappeared. But Finance Minister A.M.A. Muhith says authorities are considering suing the U.S. bank over the money’s apparent transfer to accounts in the Philippines, reports AP. bbMuhith said the U.S. bank has “no way to avoid their responsibility.” The New York Fed put out a brief statement through its Twi...
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