Editor in Chief: Moh. Reza Huwaida Sunday, May 26th, 2019

Bangladesh to Sue Manila Bank over $81 Million Cyber Heist: Cenbank Governor

Bangladesh to Sue Manila Bank over $81 Million Cyber Heist: Cenbank Governor

DHAKA - Bangladesh will file a lawsuit in a U.S. court on Wednesday against Philippine bank Rizal Commercial Banking Corp (RCBC) over its role in one of the world’s biggest cyber-heists, the Bangladesh central bank governor said.
In February 2016, unknown criminals used fraudulent orders on the SWIFT payments system to steal $81 million from the Bangladesh central bank account at the Federal Reserve Bank of New York. The money was sent to accounts at Manila-based RCBC and then vanished into the casino industry in the Philippines.
Fazle Kabir, governor of the Bangladesh Bank, said the lawsuit would be filed in the U.S. District Court for the Southern District of New York.
“All necessary processes have been completed and Bangladesh signed an agreement Tuesday night with the New York Fed Bank to assist Bangladesh in handling this case,” Kabir told reporters.
For its part, RCBC has previously said the cyber heist was an inside job and Bangladesh Bank was engaging in a cover-up by maligning it.
On Wednesday, RCBC said in a statement it had engaged a top New York law firm to handle its defense.  (Reuters)