BB heist report release halted as it may hinder money recovery

BB heist report release halted as it may hinder money recovery

0

Finance minister AMA Muhith is not going to release the final report on the Bangladesh Bank (BB) cyber heist submitted by a government-commissioned probe committee as it may hinder the recovery process of heist money.
“We are corresponding with Philippines for recovering the heist money and filed case with the court. Besides there are different issues in this connection. For this reason the final probe report will not be released tomorrow,” he said the reporters at the secretariat on Wednesday.However he said the final report will be published but it will be late.
Muhith just couple day said that the final report on the Bangladesh Bank (BB) cyber heist submitted by a government-commissioned probe committee to published on Thursday.
“I’ll go abroad on September 24. The report will be published on September 22,” he told reporters at the Secretariat. After the investigation team, headed by former central bank governor Mohammed Farashuddin, handed the report to Muhith on May 30, the minister had said that it would be made public after he had finished ‘going through it’.
Muhith is set to leave for Saudi Arabia on September 24, beginning a three-week trip abroad, during which he will attend the annual conference of the World Bank Group and the International Monetary Fund (IMF) in Washington.
The government has decided not to make the central bank’s heist probe report public for the time being as it thinks the published report might affect the recovery of money from the Philippine authorities.
Bangladesh is set to get back USD 15.25 million (Tk 120 crore) out of the USD 81 million stolen from Bangladesh Bank (BB) reserves by hackers earlier this year as as a Philippines court has issued an order to BSP (Bangko Sentral ng Pilipinas) to release $4.63 million and Peso 488.28 million in favor of Bangladesh last week.
Philippine’s Department of Justice represented Bangladesh at the case between Philippine government and Kim Wong. The central bank is now trying to recover the rest of stolen fund. Philippines government and its central bank have been providing all types of cooperation to Bangladesh to recover the fund.
Four months ago, Philippines Casino junket operator Kim Wong had returned Tk. 120 crore. As per the Philippine law, that amount was seized by the state. The Philippines court yesterday ordered its return to Bangladesh.
Meanwhile, the Philippines court has declared Bangladesh as the rightful owner of the funds, totalling USD 15 million, said Ricardo Paras III, chief state counsel of the Philippine department of justice. On February 4, USD 101 million was stolen by hackers from the Bangladesh Bank’s reserves with the Federal Reserve Bank of New York through Rizal Commercial Banking Corporation (RCBC) in the Philippines and Pan Asia Banking Corporation in Sri Lanka. – Staff Reporter

Share.

Comments are closed.