WASHINGTON (Sputnik) — The Federal Reserve Bank of New York will cooperate with the Central Bank of Bangladesh and the financial messaging services provider Swift to help recover proceeds lost in a cyber fraud event in February, the bank said in a press release on Tuesday.
"The parties also agreed to pursue jointly certain common goals: to recover the entire proceeds of the fraud and bring the perpetrators to justice, and protect the global financial system from these types of attacks," the release stated.
In February, the New York Federal Reserve blocked $850 million worth of transactions from Bangladesh’s account, but did not prevent the illicit transfer of another $101 million.
The US Federal Bureau of Investigation suspects an insider involvement in the cyber-theft, according to media reports.
In March, Bangladesh suggested it viewed the incident as a major lapse on the part of New York Federal Reserve.
