Bangladesh will sue Filipino bank to recover stolen money: Muhith
Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Bangladesh will file case against Rizal Commercial Banking Corporation of Philippines to recover the stolen reserve money.
Finance Minister Abul Maal Abdul Muhith came up with the statement on Wednesday.
“Yes, the case will be filed in New York. Fed will be a party in favour of us,” he told newsmen after a meeting of cabinet committee on public procurement at Bangladesh Secretariat.
He said some lawyers are discussing the ways of filing case in New York court.
Mr Muhith, replying to a query, however, said the investigation report, carried out in Bangladesh on the reserve heist incident would not be made public.
“No it won’t be published now. We have not taken any decision till now on it,” he said replying another query.
Meanwhile, a local news agency said, Bangladesh Bank Deputy Governor Abu Hena Mohd Razee Hassan also informed the media on Wednesday about the decision to file the case.
Unidentified hackers stole $81 million from Bangladesh Bank’s account at the New York Fed in February in 2016, using fraudulent orders on the SWIFT payments system.
The money was sent to accounts at Manila-based Rizal Commercial Banking Corp and then disappeared into the casino industry in the Philippines.