Cyber heist: Bangladesh receives $15 million stolen money from Philippines

Bangladesh Bank authorities on Saturday accepted $15.25 million dollars of the $81 million dollar stolen money from the Philippines’ anti-money laundering council.

International cyber hackers had stolen the money on February 5 this year, when they managed to get the money out of the Bangladesh Bank’s sovereign account maintained with the Federal Reserve Bank of New York.

The money entered accounts seemingly set up to anticipate the transfers at the RCBC Bank in Philippines. Meanwhile, another $20 million went to Sri Lanka, where it was blocked by authorities.

"Our team now visiting the Philippines has received $15.25 million and it is now under process to be deposited with Bangladesh Bank’s account,” Bangladesh Bank deputy governor Abu Hena Razee Hasan said tday.

Earlier, a Philippines court on September 19 authorised Banko Sentral ng Philipinas, the central bank of the country, to return about $15.25 million to Bangladesh. It represents the amount recovered by the authorities from a junket businessman.

The Philipino court had made order settling a petition of the Department of Justice (DoJ) in the Philippines. The DoJ represented Bangladesh in the case settled by the regional trial court.

Following the order, Bangladesh Bank filed an execution suit with a Philippine court to get the money bank in its account. The case was also settled and the order issued in favour of Bangladesh.

A team of the central bank went to Manila on November 7 to work on moving back part of the fund.

With UNB inputs