Bangladesh bank boss quits over $100m cyber-fraud

The head of Bangladesh’s central bank, Atiur Rahman, has resigned after cyber-thieves stole more than $100m from the country’s foreign currency reserves. Mr Rahman submitted his resignation to Prime Minister Sheikh Hasina after it emerged that unknown hackers had stolen the money from the bank’s account with the Federal Reserve Bank of New York. The […]

The head of Bangladesh’s central bank, Atiur Rahman, has resigned after cyber-thieves stole more than $100m from the country’s foreign currency reserves.
Mr Rahman submitted his resignation to Prime Minister Sheikh Hasina after it emerged that unknown hackers had stolen the money from the bank’s account with the Federal Reserve Bank of New York.
The theft happened in February, but Mr Rahman did not tell the government.
Finance Minister A M A Muhith said he had learnt of it from press reports.
Reports say the gang behind the raid used stolen credentials to make requests to transfer cash look legitimate.
If all the requests had gone unchallenged, the gang would have got away with about $1bn.
However, the transfers were stopped when the volume of requests raised suspicions at other banks.