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Bangladesh Bank retrieves $15m stolen by hackers

14 November 2016  |  4389 views  |  0 cash

Bangladesh Bank has retrieved $15.25 million of the $81 million stolen by hackers from its New York Federal Reserve account earlier this year, and is hoping to claw back another $30 million.

The $15.25 million was handed over by Philippines authorities to Bangladesh's ambassador to the country and is expected to be credited to the Fed account today, according to Reuters.

In February, hackers using fake Swift credentials used Philippines-based Rizal Commercial Banking Corp as the conduit to funnel the $81 million stolen from the Bangladesh central bank. Most of the money was then laundered through Manila casinos.

A local casino boss, Kim Wong, surrendered around $15.25 million to authorities that he took from two Chinese high rollers. A Philippines court has since determined that Bangladesh Bank is the rightful owner of the money.

Bangladesh Bank deputy governor Abu Hena Mohammad Razee Hassan tells Reuters that another $30 million which the bank is hoping to get back remains frozen. The Philippines Supreme Court will decide the money's fate.

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