RCBC mulls lawsuit vs Bangladesh central bank

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RIZAL Commercial Banking Corp. (RCBC) said it was considering legal action against Bangladesh central bank officials for alleging that the bank was involved in the $81 million cyber heist that happened two years ago.

“RCBC has had it and will consider a lawsuit against Bangladesh Central Bank (BB) officials for claiming the bank had a hand in the $81M cyber heist two years ago,” RCBC said in a statement issued on Thursday.

This comes after Bangladesh Bank announced its plan to file a lawsuit in New York against RCBC over the $81 million stolen funds in February 2016.

“We will not allow them to continue to malign RCBC. Various reports, including their own, indicate an inside job,” the Philippine bank said.


RCBC also stressed that Bangladesh Bank and Dhaka officials refused to release their findings “to hide from the Bangladeshi public what could very well be the involvement of its own officials who may have helped loot their money deposited with the New York Federal Reserve.”

It said Bangladesh Bank and Dhaka officials are perpetuating the cover-up and using RCBC as a scapegoat to keep their people in the dark.

RCBC also expressed its readiness against any legal action by the Bangladesh central bank.

“The first thing we will ask is for BB and Dhaka to submit to court their findings. If they refuse, they will immediately suffer from comparison since RCBC willingly shared information to the extent allowed by law. And why sue RCBC when they should be suing instead their own, the criminal elements from within?” it said.

“Again, why is BB not going against those who have been identified as having possession of the remaining money? There is none left in RCBC. It is time for BB and Dhaka to come clean and give its people answers,” the bank said. MAYVELIN U. CARABALLO

 

 

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