Philippines ends Bangladesh’s cyber heist probe
11th September 2016
Philippines ends Bangladesh’s cyber heist probe
The Philippines’ department of justice has ended primary investigation in the cyber highest of the largest-ever amount of money Bangladesh Bank account of New York Federal reserve. At least 81 million dollars of the stolen money was en-cashed in Manila. The Daily Inquirer reported that the probe was related to… Read More
Phillipines Central Bank: ‘Bank secrecy law must be relaxed’
11th September 2016
Phillipines Central Bank: ‘Bank secrecy law must be relaxed’
The central bank on Monday said the involvement of a local bank and a remittance firm in the $81-million Bangladesh Bank heist could have been prevented if monetary authorities had supervisory powers over money service businesses (MSB) and were allowed by law to look into bank accounts. “Earlier Mr. Senator… Read More
DOJ files official claim for Bangladesh over $15M of stolen funds
8th September 2016
DOJ files official claim for Bangladesh over $15M of stolen funds
Seven months after $81-million of its funds was stolen in a cross-border money laundering scheme in February, Bangladesh has taken the first legal step to claim at least $15 million. On behalf of Dhaka, the Department of Justice (DOJ) has filed for claims to have the money returned to Bangladesh. Read More
Philippine bank says it preserves ties with big U.S. banks despite heist role
10th August 2016
Philippine bank says it preserves ties with big U.S. banks despite heist role
Rizal Commercial Banking Corp (RCBC) officials say they have preserved ties with major U.S. banks despite the use of one of its branches in Manila by cyber criminals to funnel $81 million stolen from the Bangladesh central bank’s account at the Federal Reserve Bank of New York. The money was… Read More
$81-M Bangladesh bank heist: Where’s the money now?
9th August 2016
$81-M Bangladesh bank heist: Where’s the money now?
A high-level delegation from Bangladesh will arrive next month seeking to recover the $81 million laundered in the Philippines. Read More
Philippine Drug War: President Duterte Launches Corruption Purge
8th August 2016
Philippine Drug War: President Duterte Launches Corruption Purge
President Rodrigo Duterte of the Philippines launched a purge of the ranks of politicians, judiciary and the armed forces Sunday by publicly announcing names of over 150 people he accused of being involved in illegal drug-related corruption. Duterte gave the people he named 24 hours to turn themselves in to… Read More
Philippines: ‘P1-B RCBC fine backs Deguito claim’
8th August 2016
Philippines: ‘P1-B RCBC fine backs Deguito claim’
THE IMPOSITION of a P1-billion penalty on Rizal Commercial Banking Corp. (RCBC)―the largest fine ever imposed by a regulator in local banking history―bolsters the argument the transfer of $81 million in funds stolen from the Bangladeshi central bank was facilitated at the RCBC head office and not at the branch… Read More
Philippines: BSP slaps biggest monetary penalty of P1-B fine on RCBC
5th August 2016
Philippines: BSP slaps biggest monetary penalty of P1-B fine on RCBC
Banking regulators on Friday imposed the single biggest monetary penalty on an erring financial institution in the country’s history, slapping the Yuchengco family-controlled Rizal Commercial Banking Corp. (RCBC) with a P1-billion fine in the wake of the Bangladesh Bank cyberheist. In a statement issued late Friday, the Bangko Sentral ng Pilipinas… Read More
Bangladeshi officials assured of help in reclaiming laundered $15M
4th August 2016
Bangladeshi officials assured of help in reclaiming laundered $15M
John Gomes: 'This case involving about $15 million is pending, but I think within one month they should be resolving that case and we will be getting back our money' Read More
Bangladesh Officials Head to Manila to Seek Recovery of Bank Heist Money
2nd August 2016
Bangladesh Officials Head to Manila to Seek Recovery of Bank Heist Money
Officials from the Bangladesh central bank are visiting Manila this week to pressure the authorities in the Philippines to find ways to return the $63 million that is still missing out of the funds stolen from its account at the Federal Reserve Bank of New York earlier this year, two… Read More
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