The Bangladesh Central Bank (BB) is set to file a lawsuit against a Philippine bank in relation to the $81-million cyber heist two years ago.
Bangladesh’s Finance Minister A.M.A Muhith on Wednesday, February 7 said Bangladesh bank lawyers were mulling to file a joint lawsuit against the Rizal Commercial Banking Corp (RCBC) and the United States Federal Reserve (Fed).
“It will be [filed]in New York. (The) Fed may be a party,” he told reporters.
According to Bangladesh Bank Deputy Governor Razee Hassan, the lawsuit against RCBC “would be filed in April.”
“They (RCBC) are the main accused,” Hassan told Agence France-Presse.
Hassan added, “Rizal Commercial Banking Corporation and its various officials are involved in money heist from Bangladesh Bank’s reserve account and the bank is liable in this regard.”
In February 2016, unidentified hackers managed to transfer $81 million from the Bangladesh Central Bank’s account to four accounts at RCBC in Manila, credited to several accounts reportedly owned by casinos in the Philippines.
RCBC, for its part, said it is also mulling to file a lawsuit against Bangladesh bank officials for implicating that the Philippine bank has a hand in the heist.
“RCBC has had it and will consider a lawsuit against Bangladesh Central Bank officials for claiming the bank had a hand in the $81M cyber heist two years ago,” RCBC said in a statement.
“We will not allow them to continue to malign RCBC,” it added, expressing readiness to face any legal action by the BB.
The Bangladesh bank, RCBC said, should instead sue its own personnel as “various reports, including their own, indicate an inside job.”
The Philippine bank further accused the BB of “perpetuating the cover-up and using RCBC as a scapegoat to keep their people in the dark.”
“Why sue RCBC when they should be suing instead their own, the criminal elements from within?” the Philippine bank said. “Again, why is BB not going against those who have been identified as having possession of the remaining money? There is none left in RCBC.”