RCBC hits back at Bangladesh Bank over heist claim

  • Page Views 665
  • Rizal Commercial Banking Corp. (RCBC) has filed a lawsuit accusing Bangladesh’s central bank of defamation, hitting back at what it says are baseless claims of its complicity in the world’s biggest cyber heist.

    In February 2016, criminals used fraudulent orders on the SWIFT payments system to steal $81 million from the Bangladesh central bank’s account at the Federal Reserve Bank of New York.

    The money was sent to accounts at RCBC and then vanished into the casino industry in the Philippines.

    RCBC said its reputation had come under a sustained “vicious and public attack” by Bangladesh Bank. It is seeking at least P100 million in damages.

    “Bangladesh Bank has embarked on a massive ploy and scheme to extort money from plaintiff RCBC by resorting to public defamation, harassment and threats geared towards destroying RCBC’s good name, reputation, and image,” it said in a statement yesterday, citing the civil court filing on March 6.

    It said the motive was to get RCBC to return money it neither had, nor owed.

    Bangladesh Bank declined to comment.

    The lawsuit is the latest in a slew of barbs and blame-trading between the two banks.

    Last month, the Federal Reserve said it had agreed to help Bangladesh as it sues to recoup losses from the heist, offering “technical assistance”. SWIFT also agreed to help the bank rebuild its infrastructure after the breach.

    Bangladesh Bank filed a lawsuit in the US District Court in Manhattan earlier this year, accusing RCBC of involvement in a massive conspiracy to steal its money.

    A hunt for the culprits has made little progress and Bangladesh Bank has managed to get back roughly $15 million, mostly from a Manila gaming junket operator.

    In the first conviction in the case, a Philippine court in January found a former RCBC bank branch manager, Maia Deguito, guilty on eight counts of money laundering.

    Deguito was sentenced to between 32 years and 56 years in jail, and was ordered to pay a total fine of about $109 million, although she remains free on bail pending appeal.

    (Reuters, Malaya)

    Share

    New Posts Recently publish post More

    • Heart Chiz
      20 January 2022
      19 hours ago No comment

      Heart Evangelista’s OOTD moment interrupted by ‘sermon’ from Chiz Escudero

      Heart Evangelista amused fans after her husband, Sorsogon governor Francis “Chiz” Escudero, crashed her outfit of the day (OOTD) video by giving her a “sermon.” Evangelista started her video by describing her outfit that featured black pants, a white sleeveless top and high-cut sneakers, as seen on her Instagram ...

    • 13 January 2022
      1 week ago No comment

      COVID in Philippines: gov’t limits flu meds purchases

      The Philippine government on January 12 announced limits on the purchases of fever and flu medications. The Department of Trade and Industry and Department of Health made the move amid increased demand for these over-the-counter medicines in the wake of rising COVID-19 cases in the country. The two departments ...

    • 06 January 2022
      2 weeks ago No comment

      Kris Aquino and fiancé Mel Senen Sarmiento break up

      ‘I do love you, but I guess this is goodbye,’ Mel Senen Sarmiento tells Kris Aquino in a text message Confirming rumors, actress and TV host Kris Aquino disclosed in an Instagram post on Monday, January 3, that she had broken up with her fiancé, former politician Mel Senen ...

    %d bloggers like this: