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		</div><p>Bangladesh says it may sue America&#8217;s Federal Reserve Bank after losing $100m dollars from an account in New York.</p>
<p>Few details were revealed about how the money disappeared, but finance minister AMA Muhith said authorities were considering suing the Fed over the money&#8217;s apparent transfer to accounts in the Philippines.</p>
<p>Mr Muhith said the US bank had &#8220;no way to avoid their responsibility&#8221;, but in a statement, the New York Fed said it had not detected any hacking attempts and there was &#8220;no evidence that any Fed systems were compromised&#8221;.</p>
<p>The payment instructions in question were fully authenticated &#8230; in accordance with standard authentication protocols,&#8221; the statement said.</p>
<p>The New York Fed said it had been working with the central bank of Bangladesh since the incident occurred &#8220;and will continue to provide assistance as appropriate&#8221;.</p>
<p>The Bangladesh Bank said it managed to recover some of the funds, but gave no details. It has also tracked down those still missing and is working with the anti-money laundering agency in the Philippines, which has been ordered by a court in the country to freeze the accounts while the issue is being investigated.</p>
<p>Bangladesh was also working with World Bank cyber and forensic experts, the bank said.</p>
<p>The Philippine Anti-Money Laundering Council said it was investigating and was committed to &#8220;combating money laundering and helping preserve the integrity of the financial system&#8221;.</p>
<p>The country&#8217;s leading Bengali-language Prothom Alo newspaper said at least 30 transfer requests were made on February 5 using the Bangladesh Bank&#8217;s SWIFT code, out of which five succeeded in effecting transfers.</p>
<p>Economist Mamun Rashid, who previously headed Citibank NA in Bangladesh, said he was sure the country would be able to recover the full amount.</p>
<p>&#8220;Bangladesh is a client of the Federal Reserve Bank. They must take the responsibility for this incident,&#8221; he said. &#8220;But we have to see whether we have lodged our complaint properly.&#8221;</p>
<p>Since hacking had been a threat for years, he said clients should not suffer if they were depositing with large banks.<br />
&#8220;A client&#8217;s right must be protected,&#8221; he added.</p>
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