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Philippines files case against 5 in Bangla cyber heist

image013The Anti-Money Laundering Council (AMLC) of the Philippines has filed criminal charges against five officials of Rizal Commercial Banking Corp (RCBC) and the former treasurer Raul Tan, for ‘wilfully’ ignoring suspicious activity, which led to the theft of millions of dollars from Bangladesh’s central bank in February. The complaint accused Tan, three retail banking officials and two other staffers working at the RCBC branch from which hackers transferred and withdrew the stolen money, were guilty of money laundering for not immediately flagging suspicious activity. The AMLC complaint, which was based on the bank’s investigation into the cyber heist, claimed that Tan’s actions indicated that he had knowledge that the funds transacted represented the proceeds of an unlawful activity. Tan resigned from RCBC in April. No arrests have been made by authorities, despite investigations by the FBI, Europol, the Bangladesh police and the Philippines authorities. The Bangladesh Bank recently retrieved $15 million of the stolen $81 million. Casino boss Kim Wont, also a long-time RCBC client, surrendered the $15 million to the Philippines government, which he claimed he received from two Chinese ‘high rollers’. However, Wong has denied any involvement in the crime.

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