BB to file case with NY court over reserve heist today

Bangladesh Bank (BB) will file a lawsuit with a New York (NY) court today over US $81 million heist from its reserve with Federal Reserve Bank, New York.

“The lawsuit will be filed with Southern Court in New York after Bangladesh time 7pm this evening,” said BB governor Fazle Kabir while unveiling the monetary policy for the second half of the current fiscal 2018- 19 (FY19)

He said Rizal Commercial Bank Corporation (RCBC), Manila and other agencies whose names came up during the probe will be made accused, said the governor.

All preparations for filling the case have already been completed and a four-member delegation from Bangladesh is now in New York for filing the case, Abu Hena Mohd Razee Hassan, head of the Bangladesh Financial Intelligence Unit (BFIU), told BSS earlier.

Earlier, Finance Minister AFM Mustafa Kamal also told BSS that a Bangladeshi lawyer and a lawyer from the USA are looking after the matter and they will jointly file the case. He said the two lawyers will take decision who will be the defendant and plaintiff in the case. Hackers stole a total $101 million from Bangladesh’s account at the New York Fed in February 2016.

Of the amount, $81 million was transferred to four accounts at the Rizal Commercial Banking Corp (RCBC) in Manila and another $20 million to a bank in Sri Lanka. But the transfer of $20 million to Sri Lanka had failed because of a spelling error by the hackers. Later, BB was able to retrieve about $15 million from the Philippines.