Bangladesh told to resume heist probe

6

INSTEAD of lobbying the Senate to reopen its investigation into the $81-million cyber heist, Bangladesh Bank should resume its aborted investigation that earlier hinted of an inside job, the external lawyer of Yuchengco-led Rizal Commercial Banking Corp. (RCBC) said.

Advertisements

“They stopped their investigation and then their ambassador here, John Gomes, started claiming it was an outside job. But their finance minister said it was an inside job,” said Thea Daep, RCBC’s external legal counsel, in a statement on Sunday.

In February, hackers supposedly stole $81 million from a Bangladesh Bank account at the Federal Reserve Bank of New York City.

The funds were then deposited in accounts opened at RCBC’s Jupiter Street branch in Makati.

Casino junket operator Kim Wong, one of the individuals supposedly involved in the heist, has returned $4.63 million and P488 million in cash to the Anti-Money Laundering Council

Daep questioned the Bangladesh central bank’s decision not to investigate and not to renew the contract of a US-based investigating company.

“Why don’t they want to know the truth? Before they ask for help from the Philippine government, it is incumbent upon them to submit a full report to the Philippine government, detailing what happened in Bangladesh,” she said.

Daep recounted the ordeal of a Bangladeshi expert who pointed to the weaknesses of Bangladesh Bank after the heist. The expert suddenly disappeared and was found days later in a daze and apparently mentally challenged, she said.

“Something is very wrong here. What is it that they do not want to know and must therefore report to the public? They just keep saying they are the victims and want to get their money back when it was their apparent negligence that started it all,” Daep said.

“Around March, the finance minister of Bangladesh told media he was sure it was an inside job, and the Bank of Bangladesh governor and two deputies resigned shortly thereafter. To us, these are clear indications of guilt and negligence,” Daep added.

She noted that Bangladesh Bank had been found using inferior and cheap server auxiliaries, and with no firewall. Its system required six bank officials to put their handprints on a plate in proper sequence before a payment order for the $81 million could go through.

The Bangko Sentral ng Pilipinas (BSP) on Friday imposed a P1-billion fine on RCBC in connection with the bank’s involvement in the $81-million heist. This was the largest fine ever imposed by the BSP on a financial institution.

Share.
loading...
Loading...

Please follow our commenting guidelines.

6 Comments

  1. Aries Lansigan on

    Bangladesh should investigate first their people since this was an inside job instead of blaming others because of their negligence.

  2. Yucengcos Group of Companies are paying for their sins of the past years. Remember CAP ? they cheated their investors for thousands of families for the matriculation of their children school fees? These people are bad. We must not trust them.

  3. I am 100 percent sure that it is an inside job. How can you transfer that very big amount and was allowed to transfer ? Impossible. Bangladesh bank must suffer the consequences of their mistake. Obviously, I cannot do the transfer because I do not know their system. A group of person must know and collaborated to influence those insiders in the bank. Without this, it is impossible to do it.

  4. Eloisa Concepcion on

    bangladesh has to stop abusing the Philippines generosity and graciousness and has to do their part in getting to the bottom of this. Unless they are covering up something.

    Just file that case!

    Like how Gomes’ maid filed a case against him by being abusive, robbing the maid 3,000 pesos off her salary and calling half of Filipinos thieves, the other half prostitutes.

  5. Eloisa Concepcion on

    bangladesh has to stop abusing the Philippines generosity and graciousness and has to do their part in getting to the bottom of this. Unless they are covering up something.

    Just file that damn case!