Joint Statement: Federal Reserve Bank of New York, Bangladesh Bank and SWIFT

New York Meeting

August 16, 2016
Senior representatives of the New York Fed, Bangladesh Bank and SWIFT met in New York to continue discussions about the cyber fraud event that occurred in early February. The parties discussed certain technical details of the February event to enhance their mutual understanding of how the fraud occurred, and further discussed steps that have been and will be taken to remediate the event and place Bangladesh Bank’s account at the New York Fed on a path to more normalized long-term operations. The participants remain concerned about this event and recommitted to working together to recover the entire proceeds of the fraud as expeditiously as possible, bring the perpetrators to justice in cooperation with law enforcement from other jurisdictions, and lend support to multilateral international efforts to further protect the global financial system from these types of attacks in the future.