Technological negligence behind Bangladesh Bank forex heist, CID finds

The Criminal Investigation Department (CID), a specialised police unit, has found technological negligence in the incident of the cyber heist of $101 million from Bangladesh Bank’s account in 2016 during their investigation into the case.

"Investigation of the case is at the final stage. During the investigation, what we found was technological negligence, as the BB was not technologically sound when the incident took place, that is the reality," said CID Chief Additional IGP Mohammad Ali Mia, while exchanging views with the newly elected Executive Committee (EC) of Bangladesh Crime Reporters Association (CRAB) at the CID headquarters in Dhaka city on Monday.

DIG Mainul Hasan, Additional DIG Khondkar Rafiqul Islam, Md Kamrul Ahsan and other senior officers of the CID attended the view exchange meeting. CRAB President Kamruzzaman Khan, Vice President Shaheen Abudal Bari, General Secretary Sirajul Islam and other members of the executive committee were also in attendance.

When asked about the progress in the money laundering case from the Bangladesh Bank Reserve, the CID chief said, "We are investigating the case; the investigation is almost in a good position."

The Bangladesh government is also trying to bring back the stolen money. Besides, there is also a case registered in a court in New York regarding this. The judge in that case in New York has already concluded the hearing, the CID chief said.

"Without the support of Interpol, we will not be able to arrest the accused," he added.

He, however, said, what we want is to find a way to bring the remaining funds back.

Replying to a question, the CID chief said: "Although the Bangladesh Bank was not technologically sound when the forex reserve was stolen, the Bangladesh Bank's governor recently informed us that they have already overcome the problem and there is no more technological weakness. Now, they are technologically sound."

International hackers stole $101 million from the Bangladesh Bank account with the Federal Reserve Bank through fraudulent instructions against their target of about $1 billion in February 2016.

Bangladesh has so far recovered around $18 million of the $81 million transferred to the Philippines. It was later suspected that Dridex malware was used for the attack.

On March 15, 2016, Deputy Director of Accounts and Budgeting Department of Bangladesh Bank Zubair Bin Huda lodged a case against unidentified people under the Money Laundering Prevention Act at Motijheel police station.