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Philippines Daily | February 18, 2018

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Bangladesh To File Lawsuit Against RCBC For Cyberhacking

Bangladesh To File Lawsuit Against RCBC For Cyberhacking

| On 09, Feb 2018

The Bangladesh central bank is planning to file legal charges against the Rizal Commercial Banking Corporation (RCBC) over cyberhacking.

Abu Hena Mohd. Razee Hassan, the Central Bank deputy governor, said they will file a lawsuit against the RCBC before a court in New York for the $81-M cyber heist, which can be considered as the biggest in the world.

“Rizal Commercial Banking Corporation (RCBC) and its various officials are involved in money heist from Bangladesh Bank’s reserve account and the bank is liable in this regard,” the Bangladeshi official said.

In February 2016, the account of Bangladesh Central Bank in US Federal reserves in New York lost $81-million to an unidentified hacker. Later, it was traced to several RCBC accounts in the Philippine before being transferred through local casinos.

The RCBC will also file a counter lawsuit saying for maligning the name of the bank.

“RCBC has had it and will consider a lawsuit against Bangladesh Central Bank officials for claiming the bank had a hand in the $81M cyberheist two years ago,” RCBC said. “We will not allow them to continue to malign RCBC. Various reports, including their own, indicate an inside job.”

Bangladesh has only recovered a fraction of the amount.

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