Bangladesh Bank honors Sri Lankan bankers for preventing $20 million fraud in 2016 reserve heist

Bangladesh Bank hosted a special award ceremony at its headquarters in Motijheel on Thursday to honor officials from Sri Lanka’s Pan Asia Banking Corporation PLC (PABC) for their crucial role in preventing a US$20 million fraudulent transaction during the 2016 reserve heist incident.

The central bank recognized the Sri Lankan officials for their "exemplary vigilance, professionalism, and integrity" in thwarting the attempted fraud, which was part of the infamous cyber heist that targeted Bangladesh Bank’s reserves held with the Federal Reserve Bank of New York.

Bangladesh Bank Governor Dr. Ahsan H. Mansur said the ceremony was more than a formal recognition—it was a tribute to ethics, prudence, and human values that transcend national borders. He emphasized that the actions of the Sri Lankan bankers not only protected Bangladesh’s financial interests but also upheld global trust in the banking system’s integrity.

Deputy Governor Dr. Md. Habibur Rahman welcomed the guests and praised the award recipients for their critical intervention, calling the event a “long-overdue tribute” to individuals who upheld the highest standards of vigilance and ethical conduct during a pivotal moment in global financial history.

Inspector General of Police Dr. Baharul Alam also expressed gratitude, highlighting the Sri Lankan bankers’ due diligence and their cooperation with Bangladeshi investigators. He described the ceremony as a symbol of appreciation and a reaffirmation of cross-border cooperation and institutional accountability.

The event further highlighted the enduring financial and diplomatic partnership between Bangladesh and Sri Lanka, with both sides pledging to deepen collaboration in areas such as financial crime prevention, cybersecurity, and regulatory coordination.

Cultural performances and multimedia presentations were also featured, showcasing Bangladesh’s economic progress, natural beauty, and contributions to global peacekeeping and inclusive finance.

The ceremony concluded with a renewed commitment to strengthen ties between the central banks of Bangladesh and Sri Lanka.

According to a press release, the event was attended by the Sri Lankan High Commissioner to Bangladesh, top executives of Pan Asia Bank including the awardees, four Deputy Governors, the Head of the Bangladesh Financial Intelligence Unit, and senior officials from Bangladesh Bank.

SR