With the Federal Reserve expected to hike its key interest rate by three-quarters of a percentage point on Wednesday to battle high inflation, focus will shift to how deeply signs of an economic slowdown have registered with its policymakers.
The Federal Reserve on Wednesday approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that U.S. central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out of their hands.
Finance Minister AMA Muhith says there is hardly any chance to get back more money from the US$100 million hacked from the Bangladesh Bank's account with the Federal Reserve Bank of New York.
The government will make public the probe report on the cyber heist of US$101 million from Bangladesh Bank’s account with New York’s Federal Reserve Bank.
Bangladesh's Criminal Investigation Department (CID) claims they found 20 foreigners involved in cyber heist of US$ 101 million from Bangladesh Bank's Federal Reserve Bank account, says they have found proof of negligence by central bank staff.
The Bangladesh Bank was denied prompt responses from the intermediary banks and due diligence from the Federal Reserve Bank of New York, which would have raised the stakes of recovering a major chunk of the $81 million stolen by hackers.
Bangladesh Bank has identified the people involved in the hacking of around $100 million (Tk 780 crore) from its foreign currency account with the Federal Reserve Bank of New York, claim BB officials. Almost the entire amount was transferred online to the Philippines banking system and a small portion of it to Sri Lanka by suspected Chinese hackers on February 5, they said.