Portion of money hacked from BB account recovered

The central bank in a statement on Monday said that a part of the stolen money had already been recovered.

 

The Bangladesh Bank (BB) is getting ready to take legal steps to recover the money, which was stolen from its reserve account in the United States, statement added.

 

'Bangladesh Financial Intelligence Unit (BFIU) had remained active with anti-money laundering authorities of the Philippines to recover and get back rest of the money, the BB media release added, reports BSS.

 

The anti-money laundering authorities of the Philippines had also filed a case regarding the incident and had started collecting information about all the frozen bank accounts related to the hacking incident, BB said.

 

'The legal steps would be taken once the Philippines anti-money laundering authorities concluded their investigation into the incident,' BB said, adding that if necessary, it would engage the Stolen Assets Recovery (StAR) of the World Bank (WB).

 

BB also said that an expert and a forensic investigation team of the WB have been working with the BFIU team on the incident.

 

The central bank, however, said that it did not disclose the information about the incident for the sake of the inquiry. 

 

BB also reiterated its suggestions of strengthening of cyber security in the banks and financial institutions against the backdrop of increasing cyber security threats.

 

The central bank on Friday in a directive recommended the banks and financial institution establish cyber security governance with visibility at the board level.

 

The other recommendations include comprehensive cyber security risk assessment, conducting technical gap assessment and establishing a vulnerability management program, arranging cyber security awareness programs and training for all employees, setting up 24x7 information security operations center for monitoring and incident management, developing an incident response plan and managing vendor risks for outsourced services.