Resignation of Bangladesh Bank Governor and use of stolen money
admin | 15 March, 2016
At first, I would like to appreciate BB Governor Atiur Rahman for his bold resignation from his post after the report of stolen money from BB reserve. It is bold because, none resigns with taking responsibility for any misconduct of his organisation in Bangladesh. Finance minister should have done the same, as it was also his responsibility to ensure safety of the reserve money in Bangladesh Bank. But I don't think our politician has got that courage at all.
Following the theft of almost 100m USD, Bangladesh Bank has realized now the importance of cyber attacks and how devastating it can be. The whole world has gone far away in the field of cyber security, but Bangladesh did not give any importance to that. This government is trying to connect everything, specially financial system, to internet. But they did not give any significant importance to the security aspect of this matter. Government should have been proactive on this matter.
Already many government websites were hacked by hackers. Even Bangladeshi hackers mentioned that Bangladeshi government's websites are the easiest to hack. But government has never tried to solve the security problems in it's websites. Therefore, result is just in front of all of us. What if, all the money of the reserve kept in NY bank would have been taken?
Many people will blame that employees of Bangladesh bank are not educated to prevent these cyber attacks. Then I will hold government and high officials of BB responsible for their stupid decision. They should have trained the employee first, then should have implemented the electronic transaction system. This is not the only problem, hackers were within the system for long period of time to know the BB internal system on how they request transfer of money from the NY bank. It shows that none could detect the hackers presence during that time.
BB has recovered money from Srilanka, but still waiting for the money from Philippines. But money in Philippines is almost 70m USD. They have laundered money through casino. Who knows where the money is now. It seems like, government has just handed over the money willingly.
But another important question comes into my mind that how these hackers got so easy access to BB system and what the money were supposed to use for. I suspect, prime minister's son Joy is involve in this. Because, he is an expert of IT and a powerful person like his can get the information of BB financial system easily and can get away with it. And I believe the intention of the money stolen was to be used in terrorism. This huge amount of money is needed only for international terrorist organisations. I have already mentioned many times that international terrorist organisations are using Bangladesh for transferring money. What if, this international extremist groups are behind this cyber attack for stealing money?
BB and government must stop the present system now and not to use it until they are fully sure that system is secured to be used. These are the tax payers' money, it must be kept secured and if something like this happens, government must resign. And, government and law enforcement agencies must look for any local connection in this matter, whoever he or she is.