The Rizal Commercial Banking Corp. on Tuesday accused Bangladesh’s Central Bank (BB) of a “massive cover-up” over an $81-million cyber-heist last year, as it rejected allegations it was mostly to blame.
The statement came after Dhaka, Bangladesh’s Finance Minister A.M.A Muhith said over the weekend he wanted to “wipe out” RCBC, apparently frustrated over the small amount of money recovered from the overall amount stolen from BB.
“Last year’s theft of $81 million of (BB) funds was an inside job and BB is engaging in a massive cover-up by maligning RCBC and refusing to divulge its findings,” RCBC said, calling Muhith’s remarks “extremely irresponsible.”
“BB should stop making RCBC its scapegoat,” RCBC added.
According to RCBC, the bank was “actually a victim of BB’s negligence.”
“If it was stolen by your own people, why ask us?” RCBC said.
But Bangladesh Bank deputy governor Razee Hassan insisted RCBC was at fault for releasing the stolen money.
“(RCBC) did not do due diligence. Their central bank did not fine them without any reason,” he told AFP.
Unidentified hackers shifted $81 million in February last year from BB’s account with the US Federal Reserve in New York to a Manila branch of RCBC.
The money was quickly withdrawn and laundered through Manila casinos.
The Philippines last year imposed a record $21-million fine on RCBC after a “special examination” of the bank and its role in the audacious cyber heist.
Philippine authorities have filed money laundering charges against the RCBC branch manager. (Agence France Presse)