Philippine court orders seizure of $81 million in Bangladesh Bank heist case
PARBATTANEWS DESK
A Philippine court has ordered the forfeiture of $81 million from Rizal Commercial Banking Corp (RCBC) in connection with the 2016 Bangladesh Bank reserve theft, Bangladesh police said on Sunday.
The Criminal Investigation Department’s (CID) Special Superintendent Jasim Uddin Khan confirmed the ruling, saying the funds were seized after years of legal proceedings and international cooperation.
Hackers stole $81 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York on Feb 5, 2016, by exploiting the SWIFT payment system. The money was channelled through RCBC in Makati City, the Philippines.
CID said steps to repatriate the forfeited funds to Bangladesh have already begun.
Investigators believe the cyberattack may have involved local collaborators who helped launder the money overseas.
