6/17/2023 0 Comments Liberal crime squad bank robberyThe foreign currency reserve of Bangladesh, a growing economy, often reaches multiple billions of US dollars. Like many other national banks, Bangladesh Bank, the central bank of Bangladesh, maintains an account with the Federal Reserve Bank of New York to deposit, maintain, and transfer foreign currency reserve of Bangladesh. 2.1 Attempted fund diversion to Sri Lanka.Most of the money transferred to the Philippines went to four personal accounts, held by single individuals, and not to companies or corporations. However, as of 2018 only around US$18 million of the US$81 million transferred to the Philippines has been recovered. All the money transferred to Sri Lanka has since been recovered. The Federal Reserve Bank of New York blocked the remaining thirty transactions, amounting to US$850 million, due to suspicions raised by a misspelled instruction. Five of the thirty-five fraudulent instructions were successful in transferring US$101 million, with US$20 million traced to Sri Lanka and US$81 million to the Philippines. Thirty-five fraudulent instructions were issued by security hackers via the SWIFT network to illegally transfer close to US$1 billion from the Federal Reserve Bank of New York account belonging to Bangladesh Bank, the central bank of Bangladesh. The Bangladesh Bank robbery, also known colloquially as the Bangladesh Bank cyber heist, was a theft that took place in February 2016. The Federal Reserve Bank of New York Building
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