Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Tuesday, November 13, 2018 01:57:33 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Stolen BB fund

Philippines returns $15.25m

By Special Correspondent
13th-Nov-2016       
Comments
Share your thought
Post a comment »
Read all () »

Bangladesh Bank (BB) has retrieved $15.25 million, part of $81 million   stolen from its account with the New York Federal Reserve Bank on February 5 and ended up to the Philippines banking system.

The Philippines authorities on Friday handed over the fund to a BB team in Manila.

BB retrieved the fund after 10 months of the high-profile cyber heist in which cyber criminals attempted to launder nearly $1 billion from its reserve account with the New York Fed in February last year but succeeded to launder $101 million using SWIFT financial messaging system.

Some $20 million went to Sri Lanka, where it was blocked by authorities. The rest of $81 million entered into four fictitious accounts at the RCBC Bank in Manila.

 "The Philippines Anti-Money Laundering Council handed over the $15.25 million, portion of the $81 million heist fund, to a two member team of BB's anti-money laundering department in Manila on Friday," BB Deputy Governor Abu Hena Mohd Razee Hasan, told The New Nation on Saturday.

He said, Bangladesh ambassador in Philippines John Gomes accepted the fund in cash in presence of the BB team. Prior to handing over the fund to BB, the money was kept into the vaults of the Bangko Sentral ng Pilipinas (BSP), the central bank of Philippines.

The two-member BB team traveled to Manila on November 7 to complete the process with the BSP to get back the fund which had been surrendered by casino operator Kim Wong and forfeited by the Philippine government.

The members are Debaprosad Debnath, general manager and Abdur Rob, a Joint Director of the central bank's Financial Intelligence Unit,. 

 "The recovered $15.25 million will be deposited to BB account with the NY Fed in a day or two," said Razee Hasan.

Earlier, the Regional Trial Court (RTC) of Manila ordered the release of $15 million to Bangladesh central bank declaring Bangladesh as the rightful owner of the heist money.

Following the order, Bangladesh's central bank filed an execution suit with a Philippine court to get the money bank in its account. The case was also settled and the order issued in favour of Bangladesh.

Razee Hasan, who is also the chief of Bangladesh Financial Intelligence Unit (BFUI) said, the recovered money consisting with the US dollar and Philippine peso will be deposited to BB account with the New York Fed in the next working day through two bank accounts with Standard Chartered Bank and Bangladesh embassy in Manila.
 
When asked, he said, "The Philippines authorities earlier engaged an all-out effort to trace the BB heist fund. They have already made tremendous progress in this regard. Process is on to retrieve the traced fund".

Tariff
Add Rate

News Archive

Inside The New Nation

Football »

New York City forward David Villa (7) movers the ball as Atlanta United defender Miles Robinson (12) defends during the first half of their MLS playoff soccer match in Atlanta on Sunday.


Football »

Ronaldo ends San Siro hoodoo as Juventus beat Milan 2-0


AP, Milan :Cristiano Ronaldo ended his San Siro hoodoo to help Juventus to a 2-0 win after AC Milan forward Gonzalo Higuain missed a penalty against his former team on Sunday.Higuain left Juventus in the offseason following the signing of Ronaldo and he had a nightmare game as he was ...

Editorial »

No development yet in city's road traffic management


THE directives to ensure discipline in traffic system issued by higher authorities have failed to bring any result. The traffic rule violation is still rampant. Almost all directives addressing owners and workers of city service buses and human haulers, pedestrians and drivers went unheeded. If the traffic management system returns ...

International »

California wildfires: Death toll reaches grim milestone


The death toll in wildfires sweeping California has risen to 31, with more than 200 people still unaccounted for, officials have said.Six more people were confirmed killed in the Camp Fire in the north of the state, taking the toll there to 29.That fire now equals the deadliest on record ...

City »

Prime Minister Sheikh Hasina receiving ASOCIO 2018 Digital Government Award from Post, Telecommunication and Information Technology Minister Mostofa Zabbar at the cabinet meeting on Monday.


Entertainment »

Mamo, Puja share big screen for first time


Sheikh Arif Bulbon :It was earlier fixed that Raihan Rafi directed and Jaaz Multimedia produced movie Dohon was scheduled to release on November 16. Later releasing date was changed to November 30. Owner of Jaaz Abdul Aziz confirmed the matter yesterday. Main theme of the story was given by him ...

Entertainment »

Sonakshi Sinha has only special appearance in Mission Mangal?


Actor Akshya Kumar recently announced the entire cast of India’s first space film Mission Mangal. The film is set to go on floors next month and will be helmed by Jagan Shakti. Besides Akshay as the main lead, Mission Mangal has an impeccable leading cast that includes names like Vidya ...

Football »

Iran women attend Asian Football final in rare `victory`


Hundreds of Iranian women attended a crunch football match in Tehran, in a rare step seen Sunday as a "victory" by local newspapers and hailed by FIFA as an "historic and festive day" for the sport.About a thousand women were allowed into Azadi Stadium late Saturday to watch Iranian giant ...

Editorial »

Bring the criminals to book and ensure their harsher punishment


ANOTHER woman was killed in a running bus on Friday night. This time her father was also pushed off the vehicle on Dhaka-Tangail highway in Savar. The incident may remind one of the rape and murder of law student Rupa Khatun inside a running bus in Tangail over a year ...

International »

Change tack or face defeat, Brexit critics tell British PM May


Reuters, London  :Prime Minister Theresa May was under growing pressure on Sunday to change her plan for Britain to leave the European Union to avoid defeat in a parliamentary vote.With both Britain and the EU suggesting an agreement is close, eurosceptic lawmakers and a leading member of a small Northern ...

City »

Prime Minister Sheikh Hasina chaired a meeting of Awami League (AL) Parliamentary Nomination Board as the party president at the AL's Central Office at Bangabandhu Avenue yesterday afternoon.


Entertainment »

Pori Moni to star as a journalist in upcoming crime thriller


Entertainment Desk :One of the top actresses of the country Pori Moni will be featured in Gias Uddin Selim's new web series titled, 'Preeti.' The Dhallywood star will be seen playing a role of investigative journalist in this upcoming crime thriller. In 'Preeti,' Pori Moni will unveil the crime world and ...

Business & Economy »

20 years is the timeline to replace greed-driven society: Prof Yunus


UNB , Wolfsburg, Germany :Nobel laureate professor Muhammad Yunus has set a 20-year timeline to build a new civilisation alongside replacing the "greed-driven" society which will help remove enormous amount of "frustration and gloom"."Twenty years, that's the timeline. It's possible," he said urging all to start the countdown to that ...

International »

Sri Lanka crisis deepens as President calls snap election


AFP, Colombo :Sri Lanka plunged deeper into crisis Saturday after President Maithripala Sirisena called a snap election, leaving the country facing a further two months of damaging political paralysis with a pair of bitter rivals claiming to run his government.In what opponents condemned as an illegal move, Sirisena dissolved parliament ...

Football »

Members of Bangladesh Olympic Women`s Football team during their practice session at Yangon in Myanmar on Saturday. Bangladesh will face their counterpart India today in their Asian Qualifiers of the Women's Olympic Football Tournament.


 
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