Manila bank threatens to counter-suit over $81m heist

Rizal Commercial Banking Corp (RCBC) of Philippine threatened of tit-for-tat legal action a day after Bangladesh confirmed that it would sue the bank in US over the $81-million cyber-heist that happened in early 2016.

RCBC came up with the threat in a media statement on Thursday, reports the Philippine Daily Inquirer.

“RCBC will consider a lawsuit against Bangladesh Central Bank officials for claiming the bank had a hand in the $81M cyber-heist,” the Philippine lender said in a statement.

RCBC statement alleged that they (Bangladesh central bank officials) are perpetuating the cover-up and using RCBC as a scapegoat to keep their people in the dark.

Bangladeshi officials said Wednesday they are readying a case against RCBC for its alleged role in the heist.

Unidentified hackers stole $81 million from the Bangladesh central bank’s account with the US Federal Reserve in New York two years ago, then transferred it to a Manila branch of the Rizal Commercial Banking Corp (RCBC).

The funds were then swiftly withdrawn and laundered through local casinos.

The US reserve bank, which manages the Bangladesh Bank reserve account, has denied its own systems were breached.