Date for submitting investigation report deferred for 61st time

Bangladesh Bank logoFile photo

The report investigating the case filed under money laundering act for the Bangladesh Bank reserve heist has not been submitted before the court. As a result, the court fixed 14 February as a new date for the submission of the report.

Judge Rajesh Chowdhury of the court of Chief Metropolitan Magistrate, Dhaka, passed the order Sunday. With this the date for submission of the report has been deferred for 61st time.

Hackers stole US $101m from the Bangladesh central bank’s accounts with the Federal Reserve Bank of New York on 4 February, 2016. Of the amount, $81 million was transferred to four accounts with RCBC in Manila and another $20 million to a bank in Sri Lanka.

But the transfer of $20 million to Sri Lanka failed because of a spelling error by the hackers. Later, the Bangladesh Bank was able to retrieve about $15 million from the Philippines.

The $81 million, transferred to four accounts with Rizal bank in Makati, Philippines, was withdrawn hastily. Later, $15 million was brought back in different times but the Bangladesh government is yet to retrieve $61 million.

After 39 days of the cyber heist, a case was filed on behalf of Bangladesh Bank with Motijheel police station under the sections of money laundering and cybercrimes prevention act.

Later, Criminal Investigation Department (CID) was responsible of the investigation of the case.

Officials involved with the investigation said negligence and irresponsibility of at least 13 officials of the central bank was to be blamed for the hiest.

Despite knowing about the cyber heist on the next day, Bangladesh Bank authorities maintained secrecy for 24 days while it informed the finance minister formally on the 33rd day of the incident.