Bangladesh sues Manila-based bank in NY over heist

Published June 30, 2020, 4:04 PM

by manilabulletin_admin

By the Associated Press

Bangladesh’s central bank has filed a lawsuit in a New York court against a Philippine bank over the heist of $81 million from its account with the Federal Reserve Bank of New York in 2016.

FILE - In this March 31, 2016, file photo provided by the Bangko Sentral ng Pilipinas, from left; Second Secretary of the Bangladesh Embassy in Manila Probash Lamarong, Anti-Money Laundering Council (AMLC) Director Julia Bacay-Abad and AMLC Member Emmanuel Dooc opens a case containing US dollars that was returned by Chinese casino junket operator Kam Sin Wong to Bangladesh and Philippine AMLC officials in Manila, Philippines. Bangladesh's central bank has filed a lawsuit in the U.S. District Court for the Southern District of New York against Philippine private bank over the heist of $81 million from Bangladesh Bank's account with the Federal Reserve Bank of New York. The head of Bangladesh Bank's Finance Intelligence Unit confirmed the lawsuit against the Rizal Commercial Banking Corp. (Jason Arlan Raval/Bangko Sentral ng Pilipinas via AP/MANILA BULLETIN)
FILE – In this March 31, 2016, file photo provided by the Bangko Sentral ng Pilipinas, from left; Second Secretary of the Bangladesh Embassy in Manila Probash Lamarong, Anti-Money Laundering Council (AMLC) Director Julia Bacay-Abad and AMLC Member Emmanuel Dooc opens a case containing US dollars that was returned by Chinese casino junket operator Kam Sin Wong to Bangladesh and Philippine AMLC officials in Manila, Philippines. Bangladesh’s central bank has filed a lawsuit in the U.S. District Court for the Southern District of New York against Philippine private bank over the heist of $81 million from Bangladesh Bank’s account with the Federal Reserve Bank of New York. The head of Bangladesh Bank’s Finance Intelligence Unit confirmed the lawsuit against the Rizal Commercial Banking Corp. (Jason Arlan Raval/Bangko Sentral ng Pilipinas via AP/MANILA BULLETIN)

Abu Hena Mohd. Rajee Hassan, head of Bangladesh Bank’s Finance Intelligence Unit, told The Associated Press Friday that the case was filed in the Southern District Court of New York against Rizal Commercial Banking Corp.

Court documents say hackers from North Korea used fraudulent orders on the SWIFT payments system to steal the money. The money was sent to accounts at the Philippines’ bank and then vanished into the casino industry in the Philippines. The complaint says the funds’ ultimate destination remains unclear.

Bangladesh Bank is seeking the $81 million plus damages and legal costs.

 
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