Bangladesh

A strong 6.9 magnitude earthquake struck Myanmar (formerly Burma) on Wednesday. Tremors were felt in parts of India and Bangladesh. International Business Times reports: The earthquake’s epicenter was in Myanmar, but its effects were reportedly felt in nearby Indian cities, including Delhi, Patna, Guwahati and Dehradun. In addition to the tremors, power outages ensued in the Indian state of Assam, where the Duke and Duchess of Cambridge, otherwise known as the United Kingdom’s Prince William and his wife, Kate Middleton, are visiting.

Bangladesh has learned a valuable lesson over the past two months: Do. Not. Trust. The. New. York. Fed.

On a quiet Friday morning in early February, a series of instructions using authenticated SWIFT codes was sent to 33 Liberty allegedly from the Bangladesh central bank requesting the transfer of nearly $1 billion from the country’s FX reserves.

One week ago, we documented the Hollywood-esque theft of $100 million from accounts held at the NY Fed and belonging to the central bank of Bangladesh.

In many ways, the heist was elegantly planned and executed and in others it was comically amateurish.

The story of the theft of $100 million from the Bangladesh central bank - by way of the New York Federal Reserve - is getting more fascinating by the day.