The Federal Reserve will lend a hand to Bangladesh’s central bank as it sues to recoup losses from one of the world’s largest cyber heists, even while the Philippine bank targeted by the lawsuit called it baseless and beyond U.S. jurisdiction. The New York Fed’s formal agreement to provide “technical assistance” could spell some relief for Bangladesh Bank and sets the stage for its long-promised litigation over the February 2016 heist of $81 million, of which only $15 million has been recovered.
Read the article: Reuters
