Politics Carolyn Maloney

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  • DHAKA/ NEW YORK, July 21- Jupiter. That single word, by a stroke of luck, helped stop the Federal Reserve Bank of New York from paying nearly $1 billion to the cyber-criminals behind a notorious bank heist earlier this year, according to sources familiar with the incident. They were incorrectly formatted at first; they were mainly to individuals; and they were very...

  • DHAKA/ NEW YORK, June 3- Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required to transfer money, according to two people with direct knowledge of the matter.

  • WASHINGTON, June 1- A U.S. congressional committee has launched a probe into the Federal Reserve Bank of New York's handling of the cyber theft of $81 million from one of its accounts held by the central bank of Bangladesh, according to a letter seen by Reuters. The letter, addressed to New York Fed President William Dudley and sent Tuesday from the House of...

  • May 13- 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. Representative Carolyn Maloney had called for a probe of the fund transfers triggered...

  • May 13- The Federal Reserve Bank of New York is standing by its procedures for wiring funds after facing scrutiny in the wake of the $81 million cyber heist at the Bangladesh central bank, a letter released by a congresswoman on Friday showed. Criminals tried to withdraw $951 million from Bangladesh Bank's U.S. bank account in what ranked as one of the largest...

  • Carolyn Maloney, a New York Democrat, made the request in a letter dated April 20 to House Financial Services Committee Chairman Jeb Hensarling, a Republican from Texas. The letter, seen by Reuters, came weeks after the International Consortium of Investigative Journalists worked with media outlets including The Guardian and BBC to report on 11.5 million...

  • Congresswoman Carolyn Maloney, a New York Democrat, on Tuesday told the Federal Reserve Bank of New York she wants a probe of last month's cyber heist from a Bangladesh Central Bank account at the New York Fed. "We need a thorough investigation to determine how these criminals were able to manipulate the system so that banks and financial institutions can...

  • Donald Kohn, former vice chairman of the U.S. Federal Reserve

    President Obama pushed back against criticism of his former economic adviser Lawrence Summers, who is seen as a leading candidate to become the new chairman of the Federal Reserve.