Bangladesh Bank for settlement in cyber heist
Bangladesh Bank is open to a settlement with Rizal Commercial Banking Corp in the $82 million cyber theft in February 2016 when the amount was stolen by cyber criminals from the central bank’s account with the Federal Reserve in New York and shifted to Rizal Commercial. Such a settlement will not involve the Philippine government. Bangladesh Bank is not fully recovered from the massive fraud, but it is examining whether a settlement can be reached so that some lost money can be recovered. The Philippine government had imposed a massive fine on RCBC for the cyber heist. Besides, the government has also brought casinos under anti-money laundering laws as the money from RCBC was moved to several casinos in the country.