New York Fed seeks Manila's help to recover stolen Bangladesh money

Dhaka

THE Federal Reserve Bank of New York has asked Bangko Sentral ng Pilipinas (the Philippines central bank) to help Bangladesh Bank recover the US$81 million that was stolen by hackers in February from its account held at the Fed, boosting Dhaka's efforts to retrieve the money.

In a letter sent on June 23, the New York Fed's general counsel Thomas Baxter asked Elmore Capule, general counsel for the central bank of the Philippines, "to take all appropriate steps in support of Bangladesh Bank's efforts to recover and return its stolen assets".