$20 Million Reserve Theft Prevented: Sri Lankan Bank Officials Awarded
Sri Lankan Bank Officials Honored by Bangladesh Bank for Foiling Cyber Heist
Bangladesh Bank, on July 17 and 18, 2025, awarded special recognition to officials of Sri Lanka’s Pan Asia Banking Corporation (PABC) for preventing a major cyber fraud attempt involving $20 million from the country’s central bank reserves.
🛡️ What Happened?
In February 2016, hackers attempted to unlawfully transfer $810 million from Bangladesh Bank’s account with the Federal Reserve Bank of New York. Among these, a $20 million transaction was directed to PABC in Sri Lanka.
আরো ইন্টারেস্টিং খবর
Due to the remarkable vigilance, professionalism, and integrity shown by PABC officials, the irregular transaction was identified and stopped before it could go through.
🎖️ The Award Ceremony
A special award ceremony was held at Bangladesh Bank’s headquarters in Dhaka on Thursday, July 17, 2025. Distinguished attendees included:
• Dr. Ahsan H. Mansur, Governor of Bangladesh Bank
• Dr. Baharul Alam, Inspector General of Police
• Dharmapala Weerakkody, High Commissioner of Sri Lanka to Bangladesh
• Senior officials from Pan Asia Banking Corporation (PABC)
• Four Deputy Governors of Bangladesh Bank and the head of the Financial Intelligence Unit
🌍 Significance and Message
Bangladesh Bank stated that this recognition is not only about protecting financial interests but also serves as a symbol of technological oversight and cross-border cooperation.
The event also reaffirmed commitments to strengthening long-term partnerships between Bangladesh and Sri Lanka, focusing on cybersecurity, regional oversight, and bilateral collaboration.
📌 Incident Summary
2016 Attempted cyber heist of $1 billion
$20 million targeted for transfer to Sri Lanka
Outcome Sri Lankan PABC officials successfully blocked the transaction
💰 Total Financial Details:
• Initial Attempted Theft: $1 billion
• Successfully Transferred by Hackers: $81 million
• Majority of this went to Philippine casinos and money laundering channels
• Blocked and Returned: $20 million (by PABC in Sri Lanka)
• Final Loss (as per Bangladesh Bank): Approx. $66 million remains unrecovered
🤝 Lasting Impact
This recognition not only strengthens banking ties between Bangladesh and Sri Lanka, but also sends a strong international message on cyber vigilance, financial security, and the value of ethical banking practices.
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