Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Sunday, September 23, 2018 01:42:00 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Commentary

Manila daily said it was our fault, and questioned why BB investigation stopped

By Editorial Desk
18th-Sep-2016       
Comments
Share your thought
Post a comment »
Read all () »

The Manila Standard on September 16 has raised the critical question as to why the government of Bangladesh has stopped investigation into the US$ 81 million money heist from its Federal Reserve Bank account and don't want to know the truth behind the theft. It wondered why the government is pressing instead the Philippines government to return the fund without fixing the blame. The daily has struck to the core point when it claimed the Philippines government has investigated and trying perpetrators at its end and Bangladesh now owes its probe to share with global public.

The sensational disclosure in the report that the code of the computers used in hacking the fund was in the custody of a brother of a senior Bangladesh Bank official has in fact clearly hinted how the money heist was made possible. Following that the removal of the Governor of Bangladesh Bank and two Deputy Governors instead of producing them before public investigation invariably suggests the kind of a cover up which the Philippines daily has rightly pointed out.
 
The daily has blamed Bangladesh Bank as the 'biggest stumbling block' to the recovery of the stolen money by leaving the investigation without making public the probe report. The CID probe report is nowhere. Finance Minister AMA Muhith has declined to make public the three-member probe report led by Dr Mohammad Farashuddin saying it will create problem in recovery of the money. It means the report has flashed out local perpetrators and the government is not ready to divulge their identity.

The theft succeeded clearly, the daily said because BB was negligent. Had the bank installed enough firewalls and used quality switches instead of $5 gear, the heist would not have occurred. It is indeed strange nobody has raised these issues in public in Bangladesh and the daily said an expert who raised the question was whisked away in murky circumstances and return to family later on in a shattered condition. 

The Manila Standard wondered why Bangladesh Ambassador to Manila, John Gomes, is demanding the refund of money claiming it was an outsider job when Bangladesh is not making its probe report public. It said Bangladesh Finance Minister had earlier asserted that it was an insider job; which is by far the most credible explanation to the cyber robbery. Many fear that by withholding the probe Bangladesh government is trying to sidetrack the real perpetrators whose identity may be politically damaging.

"How can the theft happen if six different BB officials had to place their palm prints on a plate in proper sequence before any order to move funds could happen, the daily has rightly raised the question demanding full investigation report of the Bangladesh government before pressing for money. The Philippines government has been more than generous it said in helping BB. The least BB can do is to give its report to break the truth.

Why Bangladesh don't want to know the truth before asking for help from the Philippines government, the daily raised the issue pointing out that it is incumbent upon Bangladesh government to submit a full report to the Philippines government, detailing what happened in Bangladesh. The daily has asserted the point with full justification. "We washed our dirty linen in the global public. They owe us that report," the daily said quoting a banker involved in the probe process.

The fact that Bangladesh Bank did not sue the New York Federal Reserve where the money was transferred from clearly shows it had nothing to do with the theft. The local Philippines bank was not also involved, one of its employees was personally involved and she is facing trial, the daily said passing all blames on Bangladesh and its faulty safety system and some of its dishonest officials.

Quoting the New York Times the Manila Standard said over $565 million were looted from state-owned BASIC Bank between 2009 and 2012, yet the mastermind who was close associate of the government was exempted from Anti-Corruption Commission investigating. The culture of impunity is what is everywhere and the banks and financial system are the biggest targets of swindlers moving money out of the country.

The government cannot play game with the international banking management. Our government has no accountability within our country. It was a blunder for the government to withdraw the Governor of Bangladesh Bank and exempt him from investigation by Anti-Corruption Commission. This act clearly indicates the government's anxiousness not to worry about the stealing of unprecedentedly high amount of foreign exchange from Bangladesh Bank.

The government will not be able to escape liability. The present is not everything. We urge the government to come clean and allow honest investigation.

Impunity for corruption must not extend too far.

Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

CPJ reveals weakness of journalists by appealing to President


THE Committee to Protect Journalists (CPJ) in a letter to the Bangladesh President has expressed deep concern about the Digital Security Act 2018, which was passed by the Parliament on September 18, and urged him to return it to Parliament for a review afresh.   If this legislation was allowed to ...

International »

Modi faces calls for resignation over French jet deal


Reuters, New delhi :Indian Prime Minister Narendra Modi faced calls for his resignation over allegations of corruption in a military jet deal with France after former French president Francois Hollande was quoted as saying New Delhi had influenced the choice of a local partner.Indian political parties have been gunning for ...

International »

US official in Russia probe suggested taping Trump: Report


Reuters, Washington: The US official who oversees the federal investigation into Russia's role in the 2016 U.S. election suggested secretly recording President Donald Trump last year and recruiting Cabinet members to invoke a constitutional amendment to remove him from the White House, the New York Times reported on Friday.Deputy Attorney ...

Football »

Tabarez renews with Uruguay until Qatar World Cup


AFP, Montevideo :Despite failing health the veteran coach Oscar Tabarez has signed a four-year contract extension to remain at the Uruguay helm until the end of the 2022 World Cup in Qatar, the South American country's football federation said on Friday.Tabarez, who suffers from a nerve disorder that forces him ...

City »

People of the Shia community brought out a Tazia procession in the city on the occasion of Holy Ashura. The snap was taken from Azimpur area on Friday.


Entertainment »

Rishi Kapoor, Juhi Chawla to reunite for a comedy The film will reunite Kapoor and Chawla 22 years after their last film 'Daraar'


Frequent collaborators Rishi Kapoor and Juhi Chawla will reunite for a family comedy produced by Sony Pictures International and MacGuffin Pictures, reported Variety.The untitled film will be co-written by Hitesh Bhatia and Supratik Sen (Parched, Kai Po Che!), and directed by Bhatia. The film will reunite Kapoor and Chawla 22 ...

Editorial »

Rohingya crisis: UN is helpless without active cooperation of int'l community


THE United Nations was established with a mission to stop brutality and promotion of human rights across the globe but at present is apparently helpless to stop the Myanmar military atrocity on Rohingya ethnic community. Though the Universal Declaration of Human Rights, International Covenant on Civil and Political Rights, the ...

Cricket »

India rout Pakistan by eight wickets in Asia Cup


AFP, Dubai :India crushed Pakistan by eight wickets in their long-awaited Asia Cup match which failed to live up to its hype in Dubai on Wednesday.Pace spearhead Bhuvneshwar Kumar (3-15) and part time off-spinner Kedar Jadhav (3-23) sent Pakistan, who won the toss and batted, collapsing to just 162 all ...

Football »

We aim to play SAFF U-16 Women's final: Choton


Bangladesh U-18 national women's football team head coach Golam Rabanni Choton said they aim to play the final of the SAFF U-18 Women's Championship which is scheduled to be held from September 28 to October 7 in Thimpu, Bhutan.He was speaking at a pre-departure press conference on Thursday at the ...

International »

US-North Korea relations making 'tremendous progress': Trump


President Donald Trump on Wednesday said US relations with North Korea are making "tremendous progress" from the days before his presidency when the two countries appeared close to "going to war."Trump said a recent letter from North Korean leader Kim Jong Un confirmed the positive track, which he said has ...

City »

Newly elected executive members of Bangladesh Photo Journalists Association paid a courtesy call on Shipping Minister Shajahan Khan at his ministry on Thursday.


Entertainment »

Not always necessary to do issue-based films: Yami Gautam


Actress Yami Gautam, who stars in Batti Gul Meter Chalu, says it is neither necessary nor possible for an actor to do issue-based films all the time. Yami was interacting with the media here on Wednesday at a promotional press conference of the film that releases on Friday. She was ...

Football »

Japanese MMA star Norifumi 'Kid' Yamamoto dies at 41


Tributes flowed Wednesday for charismatic Japanese Mixed Martial Artist ( MMA) Norifumi "Kid" Yamamoto, who died at age 41, three weeks after announcing a battle with cancer.Born to a family of wrestlers and martial artists, the wiry, tattoo-covered Yamamoto took on larger opponents in a wide range of MMA events, ...

Editorial »

Ecological danger for destroying forest by Rohingyas


A STUDY has revealed that 4,300 acres of hills and forests have been razed in Cox's Bazar to set up refugee camps and cooking fuel for Rohingyas who fled ethnic cleansing in Myanmar. Quoting the study, news media reported that about 3,000-4,000 acres of hill land at Teknaf and Ukhia ...

International »

Kim agrees to dismantle main nuke site if US takes steps too


AP,  Pyongyang :The leaders of North and South Korea announced a wide range of agreements Wednesday which they said were a major step toward peace on the Korean Peninsula. But the premier pledge on denuclearization contained a big condition, with North Korean leader Kim Jong Un stating he'd permanently dismantle ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news