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Category Archives: Financial Irregularities

ACC grills NRB Commercial Bank chairman


The Anti-Corruption Commission (ACC) has interrogated the chairman of NRB Commercial Bank in connection to two graft allegations, reports Farasath Ali is accused of multiple corrupt practices in the bank, according to ACC. “He has allegedly forged signatures of the board members to grant massive loans,” said ACC Deputy Director (Public Relations) Pranab Kumar Bhattacharya. ACC Deputy Director Jahangir ... Read More »

4 Sonali Bank officials sued for swindling Tk 126 cr The Anti -Corruption Commission (ACC) on Wednesday filed a case against five people, including four bank officials, for allegedly swindling out about Tk 126 crore from Sonali Bank.  ACC deputy assistant director Md Mosharraf Hossain filed the case against them with Khan Jahan Ali Police Station in Khulna, ACC spokesman Pranab Kumar Bhattachariya told jornalists. The case was filed ... Read More »

BD to publish NY Fed heist probe report after retrieving money from Philippines

Finance Minister AMA Muhith has said he will publish the probe report on the central bank cyber heist after retrieving all the money from the Philippines, reports   He was talking to journalists at his office after a meeting with a World Bank delegation led by Bangladesh country director. The minister had spoken of a number of deadlines to ... Read More »

Irregularities in BTCL-floated tender alleged

The Bangladesh Telecommunications Company Ltd (BTCL) is facing allegations of overlooking a mandatory tender process in awarding contract for installation of transmission systems for the country’s second submarine cable, reports  In April this year, an international tender was floated for equipment of 100 Gbps bandwidth transmission from Patuakhali’s Kuakata to Dhaka. The evaluation committee for the tender found a ... Read More »

BB heist:Police details suspicions of inside help

Reuters, Dhaka A top investigator into the electronic theft of $81 million from the Bangladesh central bank is turning his attention to some IT technicians from the bank whom he suspects hooked up its transactions system to the public Internet, giving hackers access. In a series of interviews this month, Mohammad Shah Alam, a Bangladesh police deputy inspector general who ... Read More »

Tk 26b taxpayers’ money to finance BASIC Bank’s corruption

The government has begun the process of purchasing the BASIC Bank’s bonds worth 2,600 crore or Tk 26 billion to inject fresh capital into the scam-hit bank, authorities confirmed. The bank has taken the move to issue the bonds to overcome the capital crisis created by swindling of more than Tk 4,000 crore or Tk 40 billion through loan forgery. ... Read More »

IMF chief found guilty in French negligence trial


French judges found IMF chief Christine Lagarde guilty of negligence on Monday for failing to challenge a state arbitration payout to a business tycoon in 2008 when she was French finance minister, but they did not punish her, reports Reuters. “The context of the global financial crisis in which Madame Lagarde found herself in should be taken into account,” said ... Read More »

CID speaks to ex-BB Governor Atiur over Fed Reserve cyber heist

  Atiur Rahman resigned as Bangladesh Bank governor on Mar 15, 2016 following harsh criticism for concealing the $81 million cyber heist for around a month. Investigators from the Criminal Investigation Department (CID) have spoken to Atiur Rahman, who stepped down as Bangladesh Bank governor following the $81 million cyber heist, reports A team of four CID officials, led ... Read More »

BB officials involved in Fed Reserve account heist: Investigator

Some Bangladesh central bank officials deliberately exposed its computer systems and enabled hackers to steal $81 million from its account at the Federal Reserve Bank of New York in February, a top investigator in Dhaka told Reuters on Monday, reports Rueters  The comments by Mohammad Shah Alam of the Dhaka police are the first sign that investigators have got a ... Read More »

GP’s sponsorship deals breached internal guidelines

Grameenphone broke with its internal guidelines in 11 of 250 sponsorship agreements, including one with the police, the mobile operator’s parent company Telenor said in a statement Tuesday after an internal audit, reports “Breaches of our internal guidelines are unacceptable, and corrective and preventive measures have therefore been initiated,” Telenor said. The first time Telenor’s internal audit uncovered unacceptable ... Read More »