Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Thursday, October 17, 2019 05:38:37 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 »

Stringent measures needed to bring onion prices at tolerable level


THOUGH the prices of onion decreased slightly in the last week following adequate supply in markets, consistent open market sale (OMS) and monitoring by the government, it's again showing upward trend due to syndicated activities of some unscrupulous traders. The business syndicates defying government's monitoring allegedly playing tricks to make ...

Football »

FIFA president 'disappointed' by empty stands at Koreas qualifier


AFP, Seoul :FIFA president Gianni Infantino said he was "disappointed" after attending a historic but bizarre World Cup qualifier between North and South Korea that had empty stands and no live broadcast.The rare match in the North Korean capital ended 0-0 on Tuesday, with Infantino one of the few people ...

International »

Debating Democrats blast Trump, demand his impeachment


AFP, Westerville :Democratic White House hopeful united in searing condemnation of Donald Trump during their fourth debate Tuesday, saying the president has broken the law, abused his power, and deserves to be impeached.From the opening moments, most of the dozen candidates on stage launched fierce broadsides against Trump over the ...

Entertainment »

Crown of ‘Miss Universe Bangladesh 2019’ unveiled


Entertainment Report :A franchise of Miss Universe, ‘Miss Universe Bangladesh 2019 was unveiled its prestigious crown (Tiara) on Tuesday with the presence of top 10 contests of the beauty pageant. The event was held at the Amisheé Fine Jewelry flagship store in the capital’s Gulshan area. Two judges of this ...

International »

Qatar rules out possibility of war between US and Iran


AFP, Doha :Qatar's defence minister ruled out Wednesday the possibility of a war between the United States and Iran amid rising tensions in the Gulf following attacks on oil tankers.Doha is an ally of Washington, but also has good relations with Tehran that has helped it overcome a political and ...

Editorial »

Anti-Corruption Commission must prove its success by conviction


The Anti-Corruption Commission has initiated an investigation against 43 people involved in illegal casino businesses. A senior ACC official told the reporters that they had obtained evidence against these 43 people to be involved as bigwigs in illegal casino operations, who included ruling party stalwarts and former and serving government ...

City »

Newly formed Convening Committee of Bangladesh Ainjibi Forum placing floral wreaths on the Mazar of Shaheed President Ziaur Rahman in the city on Tuesday. Convener of the committee Advocate Khondkar Mahbub Hossian was present, among others, on the occasion.


Football »

Ayhan equaliser forces France to wait for Euro 2020 spot


AFP, Paris :France drew 1-1 with Turkey in Euro 2020 qualifying on Monday in a match played against a backdrop of diplomatic and security tensions after Paris condemned Ankara for its military offensive against Kurdish forces in Syria.Substitute Olivier Giroud headed in from a corner to put France ahead on ...

Cricket »

ICC increases prize pot for Women's T20I World Cup by 320%


In a major boost to women's cricket, the ICC has decided to increase the prize money by 320% for the upcoming T20I World Cup which will be held in Australia.For the event in Australia next year the winners and runners up will now receive $1 million and $500,000 respectively; five ...

International »

Russia will not allow Turkey, Syria clash


AP, Ceylanpinar, Turkey :Russia will not allow clashes between Syrian and Turkish forces, Russian president's special envoy on Syria Alexander Lavrentiev said on Tuesday.Speaking to the press in Abu Dhabi, amid President Putin's visit to the UAE, he also stressed that Moscow viewed the Turkish offensive in Syria as unacceptable, ...

International »

Brexit deal with Britain ‘possible this week’: EU's Michel Barnier


AFP, Luxembourg  :EU Brexit negotiator Michel Barnier said Tuesday that a deal with Britain could be reached this week, but warned more tough talks are still needed.British and EU officials are racing to reach a deal on Britain's exit terms before a summit of EU leaders starting on Thursday, as ...

Business & Economy »

Mohammed Monirul Moula, Additional Managing Director of Islami Bank Bangladesh Limited, speaking at a training program for Center Leaders of Rural Development Scheme (RDS) organized by Bhola Branch of the bank at its premises recently. Md. Abdus Salam, Barishal Zonal head of the bank and local elites were also present.


Entertainment »

Marvel fans slam actress Jennifer Aniston for dissing MCU films


Jennifer Aniston is the latest A-list Hollywood figure who has taken a dig at the Marvel Cinematic Universe. Aniston, 50, who has starred in blockbusters such as 'Bruce Almighty', 'Marley & Me' and 'Horrible Bosses', was asked the reason why she decided to return to TV in an interview."It wasn't ...

Entertainment »

Janhvi Kapoor wants female versions of Kabir Singh and Joker


Janhvi Kapoor says there should be more roles that portray the uninhibited side of women -- like female versions of Kabir Singh or Joker. "Times are changing, but I still I think we need to have a little less sanitised role for women. The best such role I can think ...

Sports »

'Best ever' Biles hails record 25 world medals


US gymnastics star Simone Biles won her fifth gold medal in the women's floor final Sunday to conclude her "best ever" world championships and take her career record to 25 medals.Biles, who won the beam title earlier in the day, also claimed an unrivalled 19th world gold following her previous ...

 
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