August 6, 2016

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SECOND EDITION

SATURDAY, AUGUST 6, 2016 | Ashar 22, 1423, Zilqad 2, 1437 | Regd No DA 6238, Vol 4, No 101 | www.dhakatribune.com | 32 pages plus 12-page Arts & Letters | Price: Tk10

BANGLADESH BANK CYBER HEIST

Bangladesh close to Philippine central bank fi nes Rizal Bank recovering $15m n Reuters

n Tribune Desk

Authorities in the Philippines say it is important that Bangladesh proves that the $15m is their money

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A Bangladesh central bank team visiting Manila to recover $81m stolen from its account in New York said it was close to getting back $15m of the loot frozen by the Philippines, but first has to prove ownership of the cash to its hosts. Cyber criminals tried to steal nearly $1bn from Bangladesh Bank’s account at the Federal Reserve Bank of New York in February, and succeeded in transferring $81m to four accounts at Manila’s Rizal Commercial Banking Corp, which was then laundered through the city’s casinos, according to investigators. Only about $18m, including $2.7m frozen by the Philippines’ casino regulator, has been accounted for. The Philippines’ Department of Justice (DoJ) has asked the Bangladesh Bank delegation to file a legal

document staking its claim to $15m of that, but the casino money will have to be pursued separately, two sources close to the visiting team told Reuters. “We are in the final stages of recovering the $15m, but for the rest we hope a [Philippines] senate hearing on the issue resumes so that we can get to know more details about the case,” said John Gomes, Bangladesh’s ambassador to the Philippines, who is helping the bank representatives on a fourday visit to Manila that ended yesterday. The last Philippines Senate hearing into the heist ended in May as a new government came to power under President Rodrigo Duterte. No date has been announced for a resumption. Gomes said late on Thursday he hoped the $15m would be returned in a month.  PAGE 2 COLUMN 2

The Philippine central bank said yesterday it would fine Rizal Commercial Banking Corp (RCBC) a record $21 million, after the bank was used by cyber criminals to channel $81 million stolen from Bangladesh Bank in February. The central bank said in a statement that it was the largest amount it has ever approved “as part of its supervisory enforcement actions” on a bank. RCBC said separately that it would pay the fine over a one-year period, in two tranches of 500 million pesos each.

Unknown hackers tried to steal nearly $1 billion from the Bangladesh central bank’s account at the Federal Reserve Bank of New York between February 4 and February 5, and succeeded in transferring $81 million to four accounts at RCBC in Manila. RCBC earlier yesterday challenged Bangladesh Bank to take it to court, telling Reuters that the “Philippine side has done its part” and that the transfers were made based on authenticated instructions over payments network SWIFT. After the fine was announced, RCBC  PAGE 2 COLUMN 2


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August 6, 2016 by DhakaTribune - Issuu