Authorities in the Philippines have seized $81 million deposited in RCBC Bank that was stolen from Bangladesh Bank’s foreign reserves. The information was confirmed on Sunday (September 21) by CID chief Additional IGP Mohammad Chibghat Ullah.
On February 5, 2016, hackers stole $81 million from the Federal Reserve Bank of New York using a compromised SWIFT code, later transferring the money to the Philippines. Following lengthy legal battles and international cooperation, the authorities have now managed to seize the funds.
According to CID, the process of bringing the seized money back to Bangladesh has already begun.
Investigators believe that an international hacking group carried out the heist with assistance from an internal network within the country. A case filed in 2016 under the Money Laundering Prevention Act and Information and Communication Technology Act remains under CID investigation.