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| Bangladesh |
| Philippines bank linked to BB heist refuses to compensate Bangladesh |
| 2016-11-30 |
| [Dhaka Tribune] The Rizal Commercial Banking Corp RCBC in the Philippines said it is not liable to compensate Bangladesh for the bank heist money deposited in its accounts and instead blamed the central bank in Dhaka for being "negligent" on Tuesday. Unknown cyber criminals tried to steal nearly $1bn from the Bangladesh Bank in February, one of the biggest bank frauds ever. They succeeded in transferring some $81m via an account at the New York Federal Reserve to four accounts in fake names at a branch of Rizal Commercial Banking Corp (RCBC) in Manila. Most of the money was laundered through casinos in Manila and remains missing. RCBC external counsel Thea Daep urged Bangladesh Bank to be transparent and produce the results of its own investigation to shed light on who was behind the heist, saying it was the least Bangladesh Bank could do. "RCBC is not the proximate cause of the theft. They have no case against us. BB (Bangladesh Bank) was the one who was negligent," Daep said in a statement, adding the local lender will not pay Bangladesh Bank anything. Bangladesh Ambassador John Gomes was quoted in a newspaper as saying his government would seek compensation from RCBC. Gomes did not respond to request for comments. Daep said RCBC received the funds after they went through three layers of highly protected financial institutions. |
| Posted by:Fred |