RCBC’s case not to create problems in money recovery: BB

Bangladesh Sangbad Sangstha . Dhaka | Published: 00:05, Mar 14,2019


Bangladesh Bank governor Fazle Kabir on Wednesday said that the defamation lawsuit, filed by Philippines’ Rizal Commercial Banking Corporation against the central bank, would not hamper efforts to recover the stolen money.
‘I read about the RCBC case in newspaper. This is not a problem. They have filed a defamation case as they are in discomfort over the case filed by the Bangladesh Bank in the New York court,’ he told journalists after the inauguration session of the Janata Bank Annual Conference 2019 at the Krishibid Institute Bangladesh in the capital.
He said that everything would become clear after the Bangladesh Bank team, led by Bangladesh Financial Intelligence Unit head Abu Hena Mohd Razee Hassan, would return from Manila on Wednesday night.
A five-member Bangladesh delegation had gone to Manila, the capital of Philippines, to gear up the legal process through discussions with the authorities concerned for recovering the stolen fund.
The Manila-based RCBC filed a defamation suit against the central bank of Bangladesh.
RCBC’s latest move came after the Bangladesh Bank filed a case with the US court of southern district of New York on February 01 to recover its stolen money.
The case was filed against seven institutions, including RCBC, 15 individuals and 25 unknown persons, to recover more than $66 million stolen money from the Philippines.
Responding to a question regarding the Bangladesh Bank team’s Manila visit, the governor said that the delegation was visiting Manila as per the law of New York.
Hackers stole a total $101 million from Bangladesh’s account at the New York Fed in February 2016.
Of the amount, $81 million was transferred to four accounts with the RCBC in Manila and another $20 million to a bank in Sri Lanka.
The transfer of $20 million to Sri Lanka had failed because of a spelling error by the hackers.
Later, the Bangladesh Bank was able to retrieve about $15 million from the Philippines.

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