Forensic Focus on Financial Fraud: Taiyeb Tasked with Reserve Heist Probe
The responsibility for digital forensic analysis of the notorious cyber heist targeting Bangladesh Bank’s reserves has been entrusted to Faiz Ahmad Taiyeb, Special Assistant on Information Technology to the Chief Adviser. This was disclosed by Adviser on Law, Justice, and Parliamentary Affairs, Dr. Asif Nazrul, during a press briefing held at the Secretariat on Sunday, April 13.
Following a meeting of the review committee assigned to examine the investigation and reports regarding the $88 million scam, Dr. Nazrul stated: “It was revealed that senior figures in the previous government had instructed the CID not to name any Bangladesh Bank officials in the charge sheet. There was a plan at the time to embezzle two billion dollars from the bank.”
He further added, “The CID's investigation has reached a mature stage, and we will now determine the next steps to ensure that those responsible for this crime are brought to justice. There are many questions about whether Bangladesh Bank has taken adequate measures to prevent such crimes from recurring. We have asked them to clarify this.”
Dr. Nazrul emphasized the technical complexity of the case, noting: “Our highly experienced IT expert, Faiz Ahmad Taiyeb, the Special Assistant to the Chief Adviser on Information Technology, will specifically handle the digital forensic aspects. He has been appointed as the member secretary of the review committee.”
Addressing concerns over financial irregularities, Dr. Nazrul criticized the previous administration’s choice of legal firm, saying: “A senior lawyer closely associated with the former government was involved with the firm that was hired. Recently, $800,000 was paid to them—even for mere email correspondence. We will examine why this firm was selected, what role that lawyer played, and whether any financial irregularities or abnormalities occurred.”
He also said, “We have taken another decision: to examine whether steps taken based on CID’s matured investigation can play a role in the ongoing case in New York. We will consult with Dr. Kamal Hossain’s law firm for legal advice, and our actions will be guided accordingly.”
The adviser added, “We aim to complete our work within the three-month timeframe. Our next committee meeting will be held in two weeks on Sunday.”
In response to a question from the media about how many individuals have been identified in connection with the reserve heist, Dr. Nazrul said: “You’ll find many names in the report by Farashuddin. Additional names have also appeared in various other reports.”
Commenting on the magnitude of the crime, he stated, “It is my personal opinion that there was a plan to steal or loot $2 billion from Bangladesh Bank. Eventually, $88 million was stolen, of which $66 million remains unrecovered. Had that $2 billion been taken, the country could have faced a famine-like situation. This was a major financial crime and part of a wider conspiracy against Bangladesh. The previous government politicized the investigation heavily. When CID's investigation reached a mature stage, they were explicitly directed not to include names of Bangladesh Bank officials in the charge sheet.”
It is worth noting that Tanvir Zohar, a cybersecurity expert, went missing in March 2016 shortly after commenting on the Bangladesh Bank reserve theft.
