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Cybersecurity

Fed Responsible for Missing $100 Million, Bangladesh Says

By
Updated on
  • Bangladesh plans legal fight to retrieve stolen funds
  • New York Fed spokeswoman said no evidence account hacked

The U.S. Federal Reserve is responsible for at least $100 million stolen from Bangladesh’s account, according to Finance Minister Abul Maal Abdul Muhith.

Bangladesh plans a legal fight to retrieve the missing funds, Muhith told reporters in the capital Dhaka on Tuesday. Bangladesh’s central bank said Monday that funds had been stolen from an account by hackers, and that it had traced some of the missing money to the Philippines, where it was working with local authorities.