3 July 2017

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

New York Meeting

Recently representatives of the New York Fed and Bangladesh Bank met in New York to continue discussions about the cyber fraud event that occurred in February 2016.  Representatives of SWIFT participated remotely.  As has been discussed at prior meetings, the parties reviewed steps that have been and will be taken to remediate the event, and progress towards rebuilding the SWIFT-related infrastructure in Bangladesh Bank to help ensure that its correspondent banking operations function in a highly secure manner.  The participants remain committed to working together to recover the entire proceeds of the crime, 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.