Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Thursday, January 17, 2019 08:16:36 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Sonali Bank loses millions to hackers

By bdnews24.com
Share your thought
Post a comment »
Read all () »

The Sonali Bank has incurred a loss of Tk 20 million last year after hackers breached its vulnerable "password and risk management system".
"The bank lost $250, 000 due to the hacking of one of its accounts' password last year," said M Aslam Alam, Secretary of the Bank and Financial Institutions Division.
"This means there has been huge flaws in the management of passwords of the bank's accounts and there has been no risk management," he said.
Finance Minister MA Muhith, who was also present during the revelation, too expressed dissatisfaction over the bank's security system.
The state-owned commercial bank lost Tk 164 million due to a burglary in Kishoreganj. RAB later in Jan recovered almost the entire looted amount.
In Nov 2012, it had come under fire for lending Tk 25 billion to an upstart company, Hall Mark Ltd, as it was considered almost impossible to recover the money.
Dwelling on the security lapses, Aslam referred Kishoreganj burglary incident and pointed out that nobody had even thought of it.
He further stated that during the mayhem unleashed by the Hifazat-e Islam, several people stormed into the bank, but there was no video footage of it.
He advised all-round security for the bank, including strengthening its online system to save the bank from such a threat.
To protect the bank from any such future risk, he suggested overhauling of the bank's security, including its online security system.
Speaking about the bank's security risks, Muhith said, "The bank's internal management system has to be strengthened to restore people's trust on it."
"The bank is yet to fully recover from the setback it suffered in 2012 after the Hall mark incident. That incident too was primarily the result of weaknesses of its internal management system."
Pointing out that the banking sector is now expanding, he advised the banks to strengthen their bases and to provide quality services.
Sonali Bank's Managing Director Pradip Kumar Dutta presented its financial accounts at the conference. The bank's Chairman AHM Habibur Rahman was in the chair.
The bank recovered Tk 51.6 billion from loan defaulters in 2013. To continue the process, the Year 2014 has been declared as 'Business Improvement and Default- Loan Recovery Year', he said.
Aslam advised the bank to change its mode of business and to lend more to small and medium entrepreneurs.
"This is because the bank is not growing by lending big entrepreneurs. Rather, its loan defaults are increasing gradually."
The bank's loans and advances in 2012 were Tk 380 billion which came down to 340 billion in 2013, a fall of 40 billion from the previous year.
Its operational profit in 2012 was Tk 11 billion, which came down to Tk 3.3 billion in 2013, a negative growth of Tk 7.73 billion.

Add Rate

News Archive

Inside The New Nation

Editorial »

Ensure ideal working atmosphere for women

THE bike of Shahanaj Akhter, who became a social media sensation recently for her struggle to maintain her family by offering ridesharing services, was recovered from Raghunathpur area in Narayanganj on early Wednesday hours after it was reportedly stolen. Police arrested a Masters student in English Department of Tejgaon College ...

Football »

Struggling Fulham sign Babel from Besiktas

Fulham signed former Liverpool forward Ryan Babel from Besiktas on Tuesday as the Premier League strugglers bid to bolster their spluttering attack and avoid relegation.Netherlands international Babel has joined Claudio Ranieri's side, who sit 19th and five points from safety, until the end of the season and could make his ...

Football »

Awami League President and Prime Minister Sheikh Hasina receiving a football ( as a souvenir) from Senior Vice-President of Bangladesh Football Federation (BFF) Abdus Salam Murshedy, MP, when a delegation of BFF led by its President Kazi Md Salahuddin met her at the Gono Bhaban on Tuesday night.

International »

Brexit deadline could be pushed back on UK request: French minister

AFP, Paris :The European Union could push back the looming March 29 Brexit deadline if London made such a request, France's Europe Minister Nathalie Loiseau said on Wednesday."At the time of speaking, it's just a theory because Mrs May has never asked for it and neither has anyone in her ...

International »

Australian towns among hottest spots on Earth as heatwave sizzles

Australian towns were among the hottest places on Earth this week as a severe heatwave hit the continent's southeast, with forecasters warning of more record-breaking temperatures before the weekend.The past four days were among the country's top 10 warmest on record, with temperatures nearing 50 degrees Celsius (122 degrees Fahrenheit) ...

Entertainment »

Katrina Kaif disagrees with the term ‘item song’

Katrina Kaif has come a long way in the 16 years she has been a Hindi film actor - from being known mainly for her dancing ability, to her acting talent being proved by films such as New York, Rajneeti and Zero. On how this journey has been so far, ...

Editorial »

Don't waste public money in the name of development projects

A Bridge built 22 years ago over a canal at Chilarkandi village in Moulvibazar's Kulaura upazila remains unused as it has no approach roads. The incident may be cited as a bright example of lack of coordination among the relevant departments and total waste of public money. The 12-metre long ...

Sports »

Ukraine's Dayana Yastremska (left) is congratulated by Australia's Samantha Stosur after winning their first round match at the Australian Open tennis championships in Melbourne, Australia on Tuesday.

Sports »

Serena Williams returns to Australian Open with emphatic win

AP, Melbourne :Serena Williams jumped straight back in where she left off at the Australian Open, returning for the first time since winning the title in 2017 when she was pregnant with her first child.Williams conceded only five points in the first set and was completely clinical in a 6-0, ...

International »

Iran satellite, that US was wary about, fails to reach orbit

AFP, Tehran  :Iran launched a satellite criticised by the United States on Tuesday but it failed to reach orbit, state television quoted the telecommunications minister as saying."The Payam satellite was successfully launched this morning with the Basir satellite carrier. But the satellite unfortunately failed to be placed in orbit in ...

International »

Model claiming Trump's 'Russia secret' goes to trial over "sex scandal"

AFP, Pattaya :A Belarusian model who sensationally claimed she had proof of Russian efforts to help Donald Trump win office appeared in court Tuesday for the expected start of her trial over running a "sex training course" in Thailand.Anastasia Vashukevich, known by her pen name Nastya Rybka, has been held ...

City »

Nepalese envoy makes farewell call on PM

Outgoing ambassador of Nepal to Bangladesh Prof. Dr. Chop Lal Bhusal and his spouse made a farewell call on Prime Minister Sheikh Hasina at her office here on Tuesday.  Dr Bhusal thanked the Prime Minister for her government's support in discharging his duties in Bangladesh. He particularly recalled the support ...

Entertainment »

Apurba, Safa Kabir in Nazia Hasan’s story

Sheikh Arif Bulbon :Safa Kabir and Apurba worked together as a pair in Valentine’s Day special play titled Tumi Bolley. Story of the play was written by Apurba’s wife Nazia Hasan Adity for the first time.Apurba and Safa played in roles of Aayan and Hridita respectively in this romantic story ...

Cricket »

Olivier sparks South Africa to sweep of Pakistan

Duanne Olivier sparked a Pakistan collapse as South Africa completed a series clean sweep with a 107-run win on the fourth day of the third and final Test at the Wanderers Stadium on Monday.Starting the day on 153 for three, Pakistan lost their remaining seven wickets for 120 runs to ...

Sports »

Emotional Wozniacki launches Australian Open defence

Caroline Wozniacki fought back tears after launching her Australian Open defence with a convincing 6-3, 6-4 win over Alison Van Uytvanck of Belgium on Monday.The third seed won her maiden Slam at Melbourne Park last year but has since been diagnosed with rheumatoid arthritis, a debilitating auto-immune disease that has ...

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
Write a comment to this news