(From Reuters)

Bangladesh’s central bank governor resigned on Tuesday over the theft of $81 million from the bank’s U.S. account, as details emerged in the Philippines that $30 million of the money was delivered in cash to a casino junket operator in Manila.

Atiur Rahman

The rest of the money hackers stole from the Bangladesh Bank’s account at the New York Federal Reserve went to two casinos, officials told a Philippines Senate hearing into the scandal.

They said a mix of dollars and Philippine pesos was sent by a foreign exchange broker to the ethnic Chinese junket operator over several days, a haul that would have been made up of at least 780,000 banknotes.

Unknown hackers last month breached the computer systems of Bangladesh Bank and attempted to steal $951 million from its Fed account, which it uses for international settlements. They managed to transfer $81 million to entities in the Philippines.

Bangladesh Bank officials have said there is little hope of apprehending the perpetrators and recovering the money would be difficult and could take months.

In Dhaka, central bank governor Atiur Rahman said he had resigned to set an example in a country where there is little precedence of accountability and to uphold the image of the institution.

Rahman defended his record at the central bank, saying he was proud of his achievements there.

He described the heist as an “earthquake” and said the bank had promptly informed intelligence agencies in Bangladesh and abroad and also brought in international experts to investigate. Read More

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

Join the Conversation

15 Comments

  1. Hiya, I’m really glad I have found this information. Today bloggers publish just about gossips and internet and this is really annoying. A good website with exciting content, this is what I need. Thanks for keeping this site, I will be visiting it. Do you do newsletters? Can’t find it.

Leave a comment

Your email address will not be published. Required fields are marked *