New York Fed defends fund transfer after Bangladesh heist

After an $81 million cyber heist at the Bangladesh central bank, the Federal Reserve Bank of New York said there was no problem with its procedures for approving fund transfers, according to a letter released on Friday by a U.S. lawmaker who had questioned those methods. U.S. Representative Carolyn Maloney had called for a probe of the fund transfers triggered by the February cyber attack on the Bangladesh central bank. In the April 14 letter Thomas Baxter, general counsel and executive vice pre