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Thursday, March 24, 2016

Bangladesh Bank eyes NY Fed lawsuit after cyber theft



codeImage copyrightAP
Bangladesh Bank (BB) - the country's central banking is considering filing a lawsuit against the Federal Reserve Bank of New York after cyber hackers stole $ 81m (£ 57m) from his account.

BB hired a US lawyer, but has not yet been sued.

In February, hackers succeeded in instructing the Federal Reserve Bank of New York, to transfer money from the account to the accounts of BB in the Philippines.

After the theft, the New York Fed said that the violation did not occur in his system.

He also said that payments were verified by "standard authentication protocols."

"To date there is no evidence of any attempts to penetrate systems of the Federal Reserve System in connection with the payment in question, and there is no evidence that any Federal Reserve system has been compromised," the bank said in a statement.

"Legitimate claims"

A criminal case was initiated in Manila against the two suspects on Tuesday.

Cyber ​​robbery is one of the largest ever made.

According to Reuters, seen, the BB "is preparing the ground to make a legal claim on the loss of funds against the [Federal Reserve Bank of New York] through the judicial process."

The report from the BB states that 35 sets of instructions transfer payments were sent to the New York Fed, 30 of which were rejected by the US bank.

The incident led to the resignation of the governor of the central Bangladesh Bank Atiur Rahman.

Bangladeshi investigators are still combing the central banks of a system to obtain additional evidence and US investigators stepped in to help.

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