NY Fed, Swift and BB still in the hunt, but no leads

04 Jul 2017, 23:18

Online Desk

Dhaka: Recently representatives of the New York Fed and Bangladesh Bank met in New York to continue discussions about the cyber fraud event that occurred in February 2016.

Bangladesh Bank released a joint statement to this effect with the New York Federal Reserve, one of the 12 constituents of the US Federal Reserve, following a meeting with the US representatives on July 3.

The statement mentioned that representatives of SWIFT participated in the meeting remotely.

As has been discussed in prior meetings, the parties reviewed steps that have been and will be taken to remediate the event, and progress towards rebuilding the SWIFT-related infrastructure in Bangladesh Bank to help ensure that its correspondent banking operations function in a highly secure manner, it said.

The participants remain committed to working together to recover the entire proceeds of the crime, bring the perpetrators to justice in cooperation with law enforcement from other jurisdictions, and lend support to multilateral international efforts to further protect the global financial system from these types of attacks in the future, it added.