Latest Stories

  • NY Fed, Bangladesh central bank to resume normal money transfers - sources

    NEW YORK - The Federal Reserve Bank of New York and Bangladesh's central bank have agreed to withdraw additional payment security measures put in place after one of the world's biggest cyber heists, the theft of $81 million from Bangladesh Bank's account at the Fed, two sources said.

  • DOJ junks tax evasion rap vs remittance firm in cyber-heist

    The Department of Justice has dismissed a P35.61-million tax evasion charge against the owners of a remittance firm that converted into pesos the millions of dollars that was stolen from Bangladesh's foreign reserves last February.

  • Ex-RCBC manager Deguito released on bail

    Maia Deguito, a former branch manager of Rizal Commercial Banking Corp. (RCBC) tagged in the $81-million money laundering scandal, was released from prison after posting bail on Thursday.

  • Judge orders ex-RCBC branch manager's release

    A local court on Wednesday night ordered the release of a former branch manager of a bank linked to the $81million stolen from the Bangladeshi central bank's account at the Federal Reserve Bank of New York.

  • Ex-RCBC branch manager Deguito arrested

    MANILA - Maia Deguito, the former branch manager of Rizal Commercial Banking Corp. (RCBC) tagged in the $81-million money laundering scandal, was arrested on Wednesday for perjury, police said.

  • In a shift, Bangladesh Bank says no plans to sue Fed, SWIFT

    DHAKA/NEW YORK - Bangladesh's central bank said it has reversed its plans to sue the Federal Reserve Bank of New York and the SWIFT money transfer network, and instead intends to seek their help recovering $81 million stolen by cyber thieves in February.

  • Bangladesh officials to meet Fed, US investigators over heist: sources

    NEW YORK - A team from Bangladesh will meet officials of the Federal Reserve Bank of New York, the Federal Bureau of Investigation and the U.S. Department of Justice this week in New York in connection with the cyber theft of $81 million from the South Asian country's central bank in February, sources said.

  • Bangladesh c.bank says withholding heist probe info from 'foreign perpetrators'

    Bangladesh's central bank has said it is withholding findings of investigations into the cyber theft of $81 million from its account at the Federal Reserve Bank of New York to avoid tipping off the "foreign perpetrators" of the hack.

  • RCBC pays half of P1-B fine over Bangladesh caper

    Rizal Commercial Banking Corp. (RCBC) on Friday made its first payment of a record P1 billion fine over its role in the shifting of millions of dollars that was stolen from Bangladesh's foreign reserves, a central bank official said.

  • Record fine for RCBC shows PH resolve in dirty money fight: BPI President

    The central bank's decision to slap Rizal Commercial Banking Corp. (RCBC) with a record P1-billion fine sends a strong signal to the international community that the Philippines is serious in curbing money laundering, the head of one of the country's largest lenders said Friday.