Consultant presents ‘remediation plan’

by Siddique Islam, The Financial Express


A presentation has shown pathways to ensure foolproof IT security system in the country’s central bank to avert any sort of cybercrime in future.

IT consultant of Bangladesh Bank (BB) Rakesh Asthana made the presentation at its board of directors meeting held at BB headquarters with Governor Fazle Kabir in the chair.

“Our IT consultant has demonstrated possible measures before the board to develop an IT system at the desired level for ensuring cyber security,” a senior BB official told the FE after the meeting.

He also said the central bank’s top management is now working relentlessly to take its IT security to international standard.

Talking to the FE, another BB official said the central bank’s IT consultant demonstrated a ‘remediation plan’ before the board for strengthening its IT security system.

“We’ll take different measures to ensure our IT security in line with the plan,” the central banker added.

The BB board earlier approved appointment of the IT consultant, who was recruited following the cyber-fraud of its US$81 million foreign exchange reserve with the US Federal Reserve Bank of New York.

The theft took place on February 4 through sending a total of 35 transfer orders to the US bank, where BB maintains a foreign-exchange account.

Nearly $20 million of the $101-million siphoned off money was recovered from Sri Lanka. The lion’s share of the money landed in the Philippines.

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