Bangladesh Bank, NY Fed Discuss Suing Manila Bank For Heist Damages (reuters.com)

An anonymous reader shares a report: Bangladesh's central bank has asked the Federal Reserve Bank of New York to join a lawsuit it plans to file against a Philippines bank for its role in one of the world's biggest cyber-heists, several sources said. The Fed is yet to respond formally, but there is no indication it would join the suit. Unidentified hackers stole $81 million from Bangladesh Bank's account at the New York Fed in February last year, using fraudulent orders on the SWIFT payments system. The money was sent to accounts at Manila-based Rizal Commercial Banking Corp and then disappeared into the casino industry in the Philippines.

Comments

It was an inside job.

[140Mandak262Jamuna]

Bangaladesh is suing Phillipines banks for purely political cover and to white wash the affair.

It was pulled off with insiders in the bank. They knew the exact process. Orders and acknowledgements were printed and kept track of. They first disabled the printer with some innocuous manner. It is possible they caused the same failure a few times before to stop them from getting suspicious. Then on a Friday, sent the money transfer orders. Acknowledgement was stuck in the print spool. NY Fed released the funds after giving enough time for Bangaladesh to countermand or correct errors.

It was NYFed noticing the typos and errors in the order that stopped the bleeding at 80 million dollars. If not, they would have drained ALL the funds of the government of Bangaladesh.

Now they are opening a dog and pony show by suing Phillipines to distract the local population, politicians and the press. It was done with the complicity of the highest level officers in Bangaladesh.