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The Bangladesh Bank robbery, also known colloquially as the Bangladesh Bank cyber heist, [1] was a theft that took place in February 2016. Thirty-five fraudulent instructions were issued by security hackers via the SWIFT network to illegally transfer close to US$1 billion from the Federal Reserve Bank of New York account belonging to Bangladesh ...
The unit was founded as the Anti-Money Laundering Department of Bangladesh Bank in June 2002. The name of the department was changed to Bangladesh Financial Intelligence Unit on 25 January 2012 through the Money Laundering Prevention Act, 2012. [5] Asia/Pacific Group on Money Laundering recommended the government to form the unit. [6]
The Hallmark-Sonali Bank loan scam is a massive loan fraud that took place in Bangladesh between 2010 and 2012. State owned Sonali Bank's Ruposhi Bangla Hotel branch lent over 35 billion Bangladeshi taka ($454 million as of 2011) based on falsified documents. Little-known company Hallmark Group received the majority, nearly Tk 27bn ($344M ...
Bangladesh military officers are known to receiving illicit loans from the Trust Bank and VDP bank. [141] The Bangladesh Rifles (BDR) mutiny was partly fuelled by resentment among the BDR troops over the corruption of army officers who led them for many years were personally profiting from consumer goods sold by the organization.
Billion Dollar Heist is a 2023 feature-length documentary that explores the 2016 Bangladesh Bank robbery. The bank robbery is described by multiple film reviewers as "one of the biggest financial crimes in history". [2] [3] The film is slightly dramatized, and compares the hackers to the hackers in Ocean's Eleven. [2]
BASIC Bank Limited is one of seven state owned banks in Bangladesh. [9] In 2016 the finance minister in a statement described the state of the bank as weak due to graft by top officials of the bank and would require some time for improvement. [10] Sonali Bank UK Ltd and other international banks had censured Basic bank over irregularities. [11]
Bangladesh Telecommunication Company Limited recovered 350 million taka from The Farmers Bank Limited on 1 November 2017 after the bank refused twice to allow them access to the funds. [8] The Bank sought support from Bangladesh Bank due to a liquidity crisis. [8] Bangladesh Bank refused to help until there was a change in the board of ...
The newly independent government immediately designated the Dhaka branch of the State Bank of Pakistan as the central bank and renamed it the Bangladesh Bank. [9] The bank was responsible for regulating currency, controlling credit and monetary policy, and administering exchange control and the official foreign exchange reserves. [9]