Bangladesh Bank, NY Fed discuss suing Manila bank for heist damages
08 Dec 2017

Bangladesh’s central bank has asked the Federal Reserve Bank of New York to join a lawsuit it plans to file against a Philippines bank for its role in one of the world’s biggest cyber-heists, several sources said.

The Fed is yet to respond formally, but there is no indication it would join the suit.

Unidentified hackers stole $81 million from Bangladesh Bank’s account at the New York Fed in February last year, using fraudulent orders on the SWIFT payments system. The money was sent to accounts at Manila-based Rizal Commercial Banking Corp RCBS.PS and then disappeared into the casino industry in the Philippines.

Nearly two years later, there is no word on who was responsible and Bangladesh Bank has been able to retrieve only about $15 million, mostly from a Manila junket operator.

– by Reuters

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