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Category Archives: Financial Irregularities

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 bdnews24.com   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 bdnews24.com  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 bdnews24.com 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 bdnews24.com “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 »

CID finds 23 foreign nationals’ involvement in BB heist

businessnews24bd.com The Criminal Investigation Department (CID) of police on Saturday claimed that they have found the involvement of 23 foreigners in the $ 101-million cyber heist from Bangladesh Bank’s account with the US Federal Reserve Bank.  “We’ve identified 23 foreigners who collected $101 million from the Philippines casino in the name of gambling and handed those over to the mastermind,” ... Read More »

NBR launches fresh probe into Yunus’ financial affairs

Bangladesh’s tax authorities have launched a new investigation into the financial affairs of the Nobel Peace Prize winner Muhammad Yunus, his family and the micro-credit agency Grameen Bank that he founded, reports Al Jazeera. Last week, it said, the central investigation cell of the National Board of Revenue (NBR) sent notices to banks requiring them to provide information within seven ... Read More »

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