Three years after hackers managed to siphon off close to US$1 billion from the Federal Reserve Bank of New York account belonging to Bangladesh Bank, criminals are now vying for smaller amounts in an attempt to avoid detection. A report by Bloomberg said that the amount of money stolen in 2018
Tag: Bangladesh Bank
LEGAL BATTLES OVER BB HEIST STARTS
BB ISSUES GUIDELINE FOR ILLITERATE CUSTOMERS
Banks, with their spic and span appearances sometimes daunt customers, especially the illiterate ones. In a bid to make things easier for them, the Bangladesh Bank (BB) in last month has issued a guideline for illiterate customers so that they can easily withdraw cash from banks through cheque. The central bank
NO BANK, NO WORRIES: THERE ARE MFSs
Abdus Sattar, a sugarcane farmer of a remote village in Gaibandha—a sleepy northern district of Bangladesh—always get daunted by the spic and span ambience of a bank branch. In places like Govindaganj, the nearest upazila from Sattar’s village that has branches of few of Bangladesh’s commercial banks, the buildings housing the
ISSUE FESTERS SURROUNDING THE BB HEIST
In the financial world, Bangladesh Bank (BB) cyber heist, happened in February, 2016 is considered as a landmark event; for all the wrong reasons though. Never had been in the history of financial transactions— be it digital or manual—robbers have attempted stealing a billion USD; in case of BB heist, they
A GOOD INITIATIVE
While export earnings from the readymade garments (RMG) put the urban Bangladesh on an escalator towards reaching the middle income status, the remittance money injected in the rural Bangladesh is making sure that the escalator stands on a firm structural skeleton, not on bubble. Most importantly, this remittance money is elevating
TIB WORRIED ABOUT RISKY DECISIONS IN THE BANKING AND FINANCIAL SECTORS
The Transparency International Bangladesh (TIB) has expressed deep concerns over government’s recent “important decisions” for the banking and financial sectors in response to the “unimpeded corruption” and “increasing money laundering”. In a statement released on May 9, TIB executive director Dr Iftekharuzzaman called on the government to introduce risk mitigation policy
