• Type:
  • Genre:
  • Duration:
  • Average Rating:

Security

Is China the new tiger of Bangladesh?

Bangladesh and China have maintained good relations for much of history. Today the two countries share a strong strategic relationship, with China playing a vital role mainly in terms of economic and infrastructure development of Bangladesh. However things weren’t so good especially during the time when Bangladesh gained independence from Pakistan and the subsequent years until around the mid 1970s.

During Bangladesh’s War of Liberation in 1971, there was a outbreak of complex geopolitical rivalries. India had allied with Bangladesh due to their long-term conflicts with Pakistan, and more so because Bangladesh was actually a part of Pakistan after the end of the British empire since 1947. China had been allied with Pakistan for most of history, and the ties strengthened especially around the time of the Sino-Indian war in 1962. As a result China opposed Bangladesh’s independence and vetoed their UN membership until 1974.[1]

It was only after the military coup in Bangladesh in 1975 that relations between Bangladesh and China started to improve. Prime Minister of Bangladesh since their independence, Sheikh Mujibur Rahman had close ties with India, and only months after the military takeover, China eventually recognised Bangladesh as an independent state as diplomatic relations were secured.[2] This dramatic transformation was fascinating, but it did not come as a surprise as the military rule led by President Ziaur Rahman distanced Bangladesh from India and the Soviets[3], which can possibly be regarded as one of the most significant reasons for their improved relationships. Ziaur Rahman helped restore free market economy in Bangladesh[4] and made a visit to China in 1977 which is regarded as a crucial step in laying groundwork for bilateral cooperation, which was followed by Chinese visits to Bangladesh in the late 1970s. Since then state visits between the two countries have been regular most of which have resulted in positive discussions and signings of agreements on political, economic and security issues.

Current relations

Bangladesh and China share a very strong relationship that ranges from the spheres of the economy, politics, development to defence and security. Today, Bangladesh considers China an “all-weather friend and a trusted ally”[5]. The cooperation dates back to Bangladesh’s  military rule in the mid-70s, however the democratically elected governments since 1991 have been able to keep up the good relations. In a 2010 visit to Bangladesh by then Chinese Vice President Xi Jinping, he stated that Sino-Bangladesh relations would remain strong regardless of any change in the domestic or international situation.[6] Bangladesh Prime Minister Sheikh Hasina on the other hand reiterated the importance of the country’s bilateral relations with China considering them a major ally of the highest significance.[7]

Economic ties

One of the most important aspects of the Sino-Bangla bilateral relations is the economic cooperation. China are by far the largest trading partner of Bangladesh with the latest World Bank figures revealing that Chinese exports to Bangladesh to be worth over US$ 10 billion (in 2015)[8]. On the other hand Bangladesh is China’s third largest trade partner. Majority of Bangladesh’s imports from china consist of raw materials for clothing and textile.[9] However the balance of trade between the countries is significant with Bangladesh having a deficit of approximately US$ 9 billion.[10] Reduction in trade deficit has been a primary concern for Bangladesh over the years, and following negotiations China agreed to provide duty-free access to around 5000 Bangladeshi products to the Chinese market under the Asia Pacific Trade Agreement (APTA) which has so far resulted in a slight decline in the ratio of trade deficit[11].

Possible Free Trade Agreement?

Talks have been in progress for several years about Bangladesh seeking a zero-tariff access of 99 percent items including Ready-made garments products in order to improve balance of trade. China’s meteoric rise in becoming the 2nd largest economy in the world only behind the United States by toppling Japan was possible largely due to its diversified economy, while having 14 FTA’s with developed as well as developing countries around the globe.

However there are some challenges of the FTA, mainly with regard to China’s ‘Made in China 2015’ industrial policy plan. There are significant restrictions on investing in China, and also preference is given to state-owned enterprises that control 38 percent of industrial assets in China, skewing competition in the market in favour of those.[12] Also another concern for foreign investors is the ‘Chinese ways’ of implementation and enforcement of laws and regulations which tend to be ambiguous and lax.

A major geopolitical challenge concerning the FTA would come from the United States and India, especially with India also having a strong alliance with Bangladesh. Chances are that India may take the Chinese assertion in its backyard as a means of increasing influence in India’s sphere, while the United States may consider an FTA as a geostrategic obstacle in containing China at the Bay of Bengal and the Indian Ocean region. However, if Bangladesh wants to achieve a fairly unrestricted access to Chinese markets it needs to keep pushing further on the negotiation table, while asserting to their other major allies, India and the United States that the actions are for their own best interests mainly in terms of economic development.

Will the US-China trade war have an impact on Bangladesh?

The recent trade war instigated by Donald Trump with his protectionist approach, with Chinese retaliations following by, has had impacts in the Bangladeshi economy. There has been a rise in steel prices (mainly rods) in the domestic market threatening both the major public infrastructure projects and the real estate market due to the US imposing tariff on US$ 34 billion worth of exports from China, while the latter imposed tariff on American cotton, and while China plan on importing cotton from India, the prices had already increased by 10-12 percent. It must be noted that more than half of Bangladesh’s cotton imports are from India  [13]. Soaring cotton prices would significantly hurt Bangladesh’s economy as they would affect the readymade garment sector.

Despite having strong economic ties there have been disagreements; a significant one is Bangladesh’s refusal of agreeing to China’s terms and conditions for the construction of the Sonadia deep-sea port in 2014.

Defence and Security Cooperation

Defence cooperation has been one of the major strengths in the bilateral relations between the two countries. China happens to be the only country that Bangladesh has signed a defence agreement with, which was done in 2002. Since then China had been the largest supplier of weapons and military equipment to Bangladesh, with latter being the 2nd largest recipient of Chinese arms in the world between 2011 and 2015[14]. Between 2013 and 2017 China has provided Bangladesh with 71 percent of all their arms purchases[15]. Bangladesh also recently purchased their first submarines to add to their naval fleet causing concerns in India. The Bangladeshi armed forces have acquired large numbers of tanks, large-calibre artillery, armoured personnel carriers, small arms and light weapons (SALW) as Chinese arms are the Bangladeshi Army’s weapon of choice while the Navy use Chinese frigates with missiles, missile boats, torpedo boats among others. China have also been supplying fighter jets and training aircraft to the Bangladeshi Air Force since 1977[16].

Very recently China and Bangladesh made crucial developments in security cooperation. The bilateral relations between the two countries have been elevated to ”Strategic Partnership of Cooperation”. The deal is aimed at intelligence sharing and counterterrorism activities, although other important matters such as cybercrime, militancy, transnational crimes, narcotics, fire service, and visa issues were also discussed during the signing of this major agreement[17].

Development cooperation/ Infrastructure development

Development cooperation is an integral part of the bilateral relations between China and Bangladesh. China has played a crucial role in the infrastructure development of Bangladesh over the years. It has assisted Bangladesh in building bridges, roads and railway tracks and power plants. The development assistance from China to Bangladesh and other developing countries mostly come as LOC’s. During a recent Bangladesh visit in 2016, President Xi Jingping promised US$24 billion in economic assistance to Bangladesh mainly as LOCs related to 24 projects[18].

China assisted Bangladesh in the construction of six bridges commonly known as the ““China- Bangladesh Friendship” bridges[19]. China also helped Bangladesh in constructing the Barapukuria coal-fired power plant located in Dinajpur in the North West of Bangladesh and was commissioned in 2006[20]. During Jingpin’s visit to Bangladesh in 2016, the countries signed agreements for two 1320 MW coal-fired power plants- one Payra, Patuakhali and the other in Banshkhali, Chittagong- making China the largest energy partner to Bangladesh overtaking India[21].

China has also provided economic assistance to Bangladesh in terms of free aid and token gifts. Two major agreements were signed in 2010 for establishing a fertiliser factory, and telecommunications network systems in Bangladesh- that were to be set up with a US$ 770 million LOC from China with a two percent interest rate payable within 20 years[22]. There had been discussions for several years on potential road and railway connections linking Chittagong with Kunming that would boost the economies of both the countries however that has not materialised as of yet[23]. Currently China is developing a 750-acre industrial park in Chittagong which will take five years to become fully operational and it will largely be used by Chinese manufacturing firms[24].

Conclusion

The good relations shared between China and Bangladesh have always been of mutual interests and both countries benefit from that. Although the growing relations between China and Bangladesh raise geopolitical tensions in the South Asia region and the Bay of Bengal, there should not be much doubt that China’s primary interest lies in the booming economy of Bangladesh, which has been ever so dependent on their bilateral trade relations. Bangladesh Prime Minister Sheikh Hasina has recently said that there is nothing to be concerned about for India while not explicitly mentioning China or any other country, and that Bangladesh need funds for the sole purpose of development and that she would welcome any country that is willing to invest in the country; she also urged India to maintain cordial relationship with all its neighbours[25]. Keeping close ties with Bangladesh will no doubt be hugely beneficial for China as the demand for oil and gas have risen largely owing to its growing industries, and having a strong geopolitical presence in the Bay of Bengal and the littoral countries could give them an advantage in terms of accessibility to various ports. On the other hand Bangladesh can only benefit from the cooperation with a major economic power as it has done so in terms of their diplomatic, economic and security affairs and would be keenly anticipating further developments in their bilateral cooperation.

[1] http://countrystudies.us/bangladesh/108.htm

[2] https://www.researchgate.net/publication/320546820_SINO-BANGLADESH_RELATIONS_AN_APPRAISAL

[3] http://countrystudies.us/bangladesh/108.htm

[4] http://siteresources.worldbank.org/EXTPREMNET/Resources/489960-1338997241035/Growth_Commission_Working_Paper_22_Economic_Reforms_Growth_Governance_Political_Economy_Aspects_Bangladesh_Development_Surprise.pdf

[5] https://www.orfonline.org/expert-speak/41935-decoding-china-bangladesh-relationship/

[6] Xinhua, 16 June 2010.

[7] “China pledges free market access”, The Daily Star, 19 March 2010.

[8] https://wits.worldbank.org/CountrySnapshot/en/BGD

[9] https://www.thedailystar.net/op-ed/politics/expanding-the-bangladesh-china-trade-frontier-1296583

[10] https://www.orfonline.org/expert-speak/41935-decoding-china-bangladesh-relationship/

[11] https://www.thedailystar.net/op-ed/politics/expanding-the-bangladesh-china-trade-frontier-1296583

[12] https://www.dhakatribune.com/opinion/op-ed/2018/05/18/free-trade-agreement-with-china-a-necessity

[13] https://www.thedailystar.net/opinion/more-just-facts/what-does-the-us-china-trade-war-mean-bangladesh-1604986

[14] https://thediplomat.com/2017/01/why-chinas-submarine-deal-with-bangladesh-matters/

[15] https://www.sipri.org/sites/default/files/2018-03/fssipri_at2017_0.pdf

[16] https://www.researchgate.net/publication/320546820_SINO-BANGLADESH_RELATIONS_AN_APPRAISAL

[17] https://www.dhakatribune.com/bangladesh/nation/2018/10/26/bangladesh-china-sign-3-agreements-on-security-cooperation

[18] https://www.orfonline.org/expert-speak/41935-decoding-china-bangladesh-relationship/

[19] https://www.researchgate.net/publication/320546820_SINO-BANGLADESH_RELATIONS_AN_APPRAISAL

[20] https://china.aiddata.org/projects/33957

[21] https://www.thethirdpole.net/en/2016/10/18/china-becomes-bangladeshs-largest-energy-partner/

[22] Rezaul Karim Byron, “$ 770 million Chinese loan tied with conditions”, The Daily Star, 28 September 2010.

[23] https://www.thedailystar.net/news-detail-259521

[24] https://www.reuters.com/article/us-bagnladesh-china/china-to-develop-bangladesh-industrial-zone-as-part-of-south-asia-push-idUSKCN1HB1M2

[25] https://economictimes.indiatimes.com/news/politics-and-nation/india-need-not-worry-about-bangladesh-china-ties-sheikh-hasina/articleshow/63037906.cms

Bangladesh-India relations: towards a stronger alliance?

Bangladesh and India have been allied more or less since their inception despite having minor disputes on certain issues. The current Bangladeshi ruling party have taken Indo-Bangladeshi relations to the next level since they came to power in 2009 (who are now serving their second term with elections in a couple of months), reaching major milestones in security cooperation as well a massive upsurge in bilateral trade.

History

Bangladesh is surrounded by India from the North, West and much of the East with the Bay of Bengal in the South and Myanmar in the South-East. The border between Bangladesh and India covers a staggering 4,095 kilometres with West Bengal having the largest share of 2217 kilometres[1].

Both countries have close cultural ties, most significant of which perhaps would be language- i.e. Bengali. The main official language of India’s West Bengal is Bengali, spoken by over a 100 million people, which also happens to be the only official language of Bangladesh. On the other hand, Hindi and Bengali have same roots in the Sanskrit language which causes them to have many similarities and enables ease of learning.

Bangladesh had been part of British India until 1947, after which it was annexed as part of Pakistan (Bangladesh was known as East Pakistan, the West Pakistan was the Pakistan of today). However, after a 9-month long war of liberation Bangladesh gained independence in 1971 and subsequently joined the Commonwealth of nations in 1972[2], and the United Nations in 1974.[3] India had been an independent state since the end of the British Empire, with a history of complex and largely hostile relations with Pakistan due to a number of historical and political events.

Bangladesh have had friendly relations with India throughout much of their history. India has provided significant assistance to Bangladesh in their War of Liberation against Pakistan in 1971 in terms of military support and firepower. However, it must be noted that ever since the British left in 1947, India have always had a volatile relationship with Pakistan and they acted in their own best interests as they felt threatened with the geographical presence of Pakistan from the East and the West. Consequently, India was the first country to recognise Bangladesh as an independent state immediately afterwards.

Bangladesh has a moderate foreign policy that places multilateral diplomacy as one of its core initiatives. Ambassador of Bangladesh to the U.S., Mohammad Ziauddin stated in 2009 that Bangladesh’s foreign policy is based on the Father of the Nation Sheikh Mujibur Rahman’s dictum, “Friendship with all and malice towards none”, with the ruling party leader Sheikh Hasina and Prime Minister of Bangladesh being the daughter of Sheikh Mujibur Rahman.[4]

Trade

The first trade agreement between the two countries was signed in 1972 and trade volume is staggering as of today. According to the some of the most recent available figures, Indian exports to Bangladesh totalled $4.5 billion between July 2016-March 2017 while Bangladesh exports to India was worth $672.40 million during the Fiscal Year 2016-17. India have also extended three Lines of Credits (LOCs) between 2010-2017 worth up to US$ 8 billion, making Bangladesh the largest recipient of Indian LOC’s.[5]

Today, Bangladesh is home to the fastest growing megacity in the world- Dhaka; while the country also boasts one of the fastest growing economies in the world, with a GDP growth rate averaging over six percent annually over the past ten years or so.[6] On the other hand, India is the most populous democracy boasting the sixth largest economy in the world by nominal GDP.[7]

Major Disputes in Bangladesh-India Relations

Despite good relations there have been disputes over borders throughout history, and it was not until June 2015 that many of the long-lasting disputes were largely settled.[8] Other significant disputes include maritime claims over seawater at the Bay of Bengal.

Border Dispute: One of the most discussed topics in their recent bilateral relations had been the border killings of Bangladeshi citizens along the Indo-Bangladesh border by India’s Border Security Forces (BSF) with their apparent “shoot-to-kill” policy in which the Human Rights Watch claimed had killed nearly 1,000 people (Bangladeshi citizens) between 2001-2011.[9] Indian officials have argued that the reason for the attacks were largely due to increasing illegal migration of Bangladeshis into India as well as persistent misuse of borders by illicit traders.[10]

River Dispute: Another major dispute concerns the sharing of the River Teesta. Teesta is one of the 54 rivers shared by Bangladesh and India[11]. This river originates in Sikkim and flows through the North of West Bengal and meets Brahmaputra river in Bangladesh[12]. The countries reached agreement on sharing the river for the first time in 1983 according to which the share of water was (as follows): India- 39%, Bangladesh- 36%, Unallocated -25%. However in recent years Bangladeshi has been asking for an equitable share. Water disputes between the two countries have existed for quite a long time throughout history. Notably it took 20 years to end the Ganges river dispute in 1996. In 2011 an interim deal that was supposed to last the 15 following years increased the share of India to 42.5 per cent and that of Bangladesh to 37.5 per cent. But to the disappointment of Bangladesh as well as India, it never materialised, largely due to the government of West Bengal refusing to sign due to concerns of the northern region drying out[13]. Despite planning failure being regarded as one of the main reasons for not having reached an agreement as of yet, there are other underlying reasons why things haven’t materialised. There is no denying that Bangladesh do need their share of water, with the Asian Foundation reporting in 2013 that Teesta’s flood plain covers 14 per cent of the total cropped area of Bangladesh provides direct livelihood opportunities to approximately 73% of its population[14]. On the other hand, the River Teesta plays a major role in the Northern Bengal while nearly half a dozen districts in the entire West Bengal state are dependent on it.[15]

Government stance:

The previous Bangladesh Nationalist Party (BNP) government did not have strong alliance with India and thus were not quite receptive to India’s concerns. They had also garnered opposition from India due to providing refuge to  leaders and members of some of the North Eastern nonstate actors/militias. However due to their close relations, the current ruling party have largely followed India-friendly policies while taking India’s side on their fight against North Eastern separatists.[16] In spite of all these, Delhi closely anticipates an agreement for the sharing of River Teesta which they believe would give them political leverage over the apparent rising influence of China in the Bay of Bengal.[17]

Awami League/Ruling party relations with India

The current ruling party led by Sheikh Hasina has had a strong alliance with India ever since they came to power in 2009, with major acts of cooperation taking place in the subsequent years. Bilateral relations of the two countries had never been better as it has been over the past decade or so. Prior to 2017, there were no formal mechanisms in place for any significant security cooperation, but that changed in 2017. As Sheikh Hasina made a special visit to India in 2018 which resulted in the signing of a MoU on the framework for defence cooperation. That paved way for improved cooperation between the armed forces of both the countries, with MoU’s signed for cooperation ranging from joint military exercises, sharing of strategical operations studies for the Defence Services Command and Staff colleges, coast-guard cooperation between the two countries to an extension of line of credit worth US$500 million for the purchase of defence equipment from India.[18]

One of the major deals was the Rampal Power Plant which is a proposed 1320 Megawatt coal-fired power station in Khulna region, Bangladesh which is a joint-venture between the Bangladesh Power Development Board and India’s National Thermal Power Corporation.[19] However the signing of the deal was subject to much controversy due to the proposed site being only 14 kilometres North of the worlds largest mangrove forest, the Sundarbans which happens to be a UNESCO world heritage site.[20] It received attention in the local as well as the international arena because the project violates the environmental impact assessment guidelines for coal-based thermal power plants.[21] Environmental experts have expressed major concerns due to the close its proximity to the Sundarbans, while there have been campaigns by The National Committee on Protection of Oil, Gas, Mineral Resources, and Power-Port, and environmentalists against the proposed project. Despite all the protests, the Bangladeshi government have consistently denied all claims and allegations about the negative environmental impacts of the Rampal project. The project has been under way for a while now however little progress have been made.[22]

Conclusion

In September 2018 Bangladesh signed a MoU with India which would let the latter use two of Bangladesh’s major ports– Chittagong and Mongla[23]. Bangladesh and India are two of the major economies of South Asia and their relationship will have a lasting impact on the region’s development. While India has the potential to emerge as a major world power competing with the likes of China and the U.S, Bangladesh may also have a role to play in their development. With the Bangladeshi general elections coming up, the Awami League are favourites to get re-elected, while it is the same for BJP, with PM Narendra Modi expected to remain PM should they win again, the relations between India and Bangladesh are likely to get better and better, with the only worry for India being China’s increasing cooperation with Bangladesh.

References

[1] https://www.hindustantimes.com/india/5-things-to-know-about-india-bangladesh-ties-from-trade-to-security/story-qgVND0mAQ4S1DpmYpzd5lJ.html

[2] “Bangladesh Joins Commonwealth”. Edmonton Journal. Edmonton, Alberta, Canada. 19 April 1972 – via Google News.

[3] “United Nations: Palestinian Position Becomes Critical Issue”. The Citizen. Ottawa, Ontario, Canada. 18 September 1974 – via Google News.

[4] https://www.belfercenter.org/publication/south-asia-week-bangladeshs-policy-priorities-and-its-relationship-united-states-and

[5] https://www.mea.gov.in/Portal/ForeignRelation/Bangladesh_September_2017_en.pdf

[6] Trading Economics, 2018, Bangladesh GDP Growth Rate. <https://tradingeconomics.com/bangladesh/gdp-growth>

[7] “India becomes world’s sixth largest economy, muscles past France”. Archived from the original on 9 August 2018

[8] Serajul Quadir (6 June 2015). “India, Bangladesh sign historic land boundary agreement”. Reuters India.

[9] “India/Bangladesh: Indiscriminate Killings, Abuse by Border Officers”. Human Rights Watch. December 9, 2010; “India’s shoot-to-kill policy on the Bangladesh border”. The Guardian. 23 January 2011; “Khaleda Zia assures counter-terror co-operation to India”. Yahoo News. Indo Asian News Service. 2012-10-29

[10] “Khaleda Zia assures counter-terror co-operation to India”. Yahoo News. Indo Asian News Service. 2012-10-29

[11] https://www.hindustantimes.com/india/5-things-to-know-about-india-bangladesh-ties-from-trade-to-security/story-qgVND0mAQ4S1DpmYpzd5lJ.html

[12] https://timesofindia.indiatimes.com/india/the-teesta-river-dispute-explained-in-10-points/articleshow/58091320.cms

[13] https://www.business-standard.com/article/current-affairs/teesta-has-one-sixteenth-of-water-needed-for-agriculture-117041500257_1.html

[14] https://www.clearias.com/teesta-river-dispute/

[15] https://www.clearias.com/teesta-river-dispute/

[16] https://www.clearias.com/teesta-river-dispute/

[17] https://www.clearias.com/one-belt-one-road-obor/

[18] https://www.orfonline.org/research/india-bangladesh-defence-cooperation-coming-of-age-at-last/#_edn2

[19] “Indo-Bangla joint company for power import”. The Independent. Dhaka. 8 March 2011.

[20] Rahman, Khalilur (24 February 2013). “Demand for Rampal power plant relocation”. Financial Express. Dhaka.

[21] Kumar, Chaitanya (24 September 2013). “Bangladesh Power Plant Struggle Calls for International Solidarity”. The Huffington Post.

[22] https://thewire.in/south-asia/rampal-power-project-sundarbans-india-bangladesh; https://www.dhakatribune.com/business/2018/01/21/little-progress-large-coal-fired-power-plant-projects

[23] “Transporting Goods to 7 Sisters: Dhaka to let Delhi use Ctg, Mongla ports”. The Daily Star. Dhaka, Bangladesh. 18 September 2018. < https://www.thedailystar.net/frontpage/news/carrying-goods-7-sisters-dhaka-let-delhi-use-ctg-mongla-ports-1635397>

Is Poland becoming a regional power?

As Europe becomes more divided, the economic and security benefits that partner countries of the European Union expect and have generally received, seems more and more uncertain by the day. This is particularly the case for some Eastern and Central European countries such as Poland.

As we enter a multi-polar world, where the global balance of power is distributed amongst multiple nations, particularly in the Eastern World, nations have become more concerned about their national security than ever before. This is the case in Poland which has historically been occupied by both of its neighbours, Germany and Russia. I’m Kasim, this is KJ Vids and in this video, we will talk about the rise of Poland as a regional European power.

Would you like to support our channel?

If you enjoyed or learnt something from this video, you may kindly support our crowdfunding campaign on www.fundmyvideo.com/kjvids

Fund My Video enables video creators to recover costs for their videos, which are much higher than any revenues they receive for most channels. Most YouTubers make videos as a hobby and spend dozens of hours editing videos for little in return. Your contributions towards this channel will significantly help us create more content with even better quality.

Many thanks for your support.

For business and other enquiries please email info@kjvids.co.uk Links we want you to check out;

KJ Vids Book Store – https://www.kjvids.co.uk/books
Patreon Club – https://www.patreon.com/kjvids
Fund My Video Page – https://www.fundmyvideo.com/kjvids

Cyber security firm: more evidence North Korea linked to Bangladesh heist

Read original article on Reuters or read some of the key points below;

  1. Cyber security firm Kaspersky Lab on Monday said it had obtained digital evidence that bolsters suspicions by some researchers that North Korea was involved in last year’s $81 million cyber heist of the Bangladesh central bank’s account at the Federal Reserve Bank of New York.
  2. Russian-based Kaspersky released a 58-page report on Lazarus, a group linked to the heist in Bangladesh and the 2014 attack on Sony’s Hollywood studio, which the U.S. government blamed on North Korea. Among its findings, the report said Lazarus hackers made a direct connection from an IP address in North Korea to a server in Europe that was used to control systems infected by the group.
  3. And Rick Ledgett, the deputy director of the National Security Agency, told reporters at an Aspen Institute event on March 15 that private sector research tying North Korea to the Bangladesh bank heist was strong. “If that’s true, then that says to me that the North Koreans are robbing banks,” Ledgett said. “That’s a big deal.”
  4. The North Korean government has denied allegations of hacking made by officials in Washington and South Korea as well as security firms.Kamluk said he could not conclusively say that Pyongyang was behind the attacks because it was possible the hackers went to great effort to make it look like they were from North Korea, or that North Koreans were working with others.
  5. The Bangladesh Bank heist was one in a string of financially motivated cyber attacks by a division of Lazarus dubbed Bluenoroff, the Kaspersky report said. Targets included banks, financial and trading companies, casinos and digital currency businesses in at least 18 nations, the report said.

 

Scroll to top