CID seizes $81m in Bangladesh Bank reserve heist

The Criminal Investigation Department (CID), acting through the court system, has successfully seized US$81 million in connection with the Bangladesh Bank (BB) reserve heist case.

The funds were confiscated from the Philippines' RCBC Bank, said a press release on Sunday.

This seizure, facilitated by a court order, directly relates to the ongoing case concerning the theft of BB's reserves.

In February 2016, cybercriminals infiltrated Bangladesh Bank's systems and issued 35 fraudulent SWIFT payment instructions to the US Federal Reserve Bank in New York, attempting to siphon off $1 billion from the country's foreign reserves. While most transactions were blocked, $101 million was successfully transferred.

Of that, $20 million was routed to Sri Lanka - later recovered after authorities flagged the transactions. The remaining $81 million was funnelled through RCBC accounts in the Philippines and quickly dispersed to casinos and other entities, sparking an international investigation.