Costly spelling Mistake..

I read about this Bangladesh foreign currency reserve scam a few days ago they only got away with $80 million ish it could have been $ a Billion.
Four spoof transactions for just $20M each went through before foundation was misspelled as fandation and the scam was realised..
The bank boss has just resigned ..

www.bbc.co.uk...


www.dawn.com...

www.dawn.com...

originally posted by: skywatcher44
I read about this Bangladesh foreign currency reserve scam a few days ago they only got away with $80 million ish it could have been $ a Billion.
Four spoof transactions for just $20M each went through before foundation was misspelled as fandation and the scam was realised..
The bank boss has just resigned ..

www.bbc.co.uk...


www.dawn.com...

www.dawn.com...

So the money has been laundered through casinos in the Philippines. Incredible. They have literally gotten away with it. Had they not been so greedy it would have gone unnoticed. Millions! Imagine, millions going unnoticed. That's the world we live in.

At about the same time, the Federal Reserve Bank of New York had alerted the Bangladesh central bank to a series of suspicious requests to transfer money. The requests are believed to have been flagged because they were to private accounts rather than other banks and because there were so many of them.
...
Bangladesh's government has publicly blamed the New York Fed for not spotting the suspicious transactions earlier.

Or they could blame themselves for doing a poor job. Nope, that's no fun.

Philippine Daily Inquirer
There is a “very low” chance that the government will be able to retrieve the $81 million stolen from the Bangladesh central bank because the money is now likely outside the country, Senator Sergio Osmeña III said Wednesday.

www.thedailystar.net...