Bangladesh's central bank said on Monday its account at the U.S. Federal Reserve had been hacked and money was stolen, but that some of the funds were traced to the Philippines and recovered.
The New York Fed, which manages the account, denied that its systems were breached but did not say whether funds had been drained from the account, citing confidentiality.
Bangladesh Bank said it was working with anti-money laundering authorities in the Philippines. It did not say how much money had been stolen and a spokesman declined to comment.
Bangladesh's central bank has around $28 billion in foreign currency reserves.