Latest Stories

  • 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.

  • P1-B fine 'negative' for RCBC, Moody's says

    The record P1 billion fine on Rizal Commercial Banking Corp. (RCBC) from the central bank will have a negative effect on the bank's debt profile, Moody's Investor Service said Thursday.

  • RCBC says it preserves ties with big US banks despite heist role

    Rizal Commercial Banking Corp (RCBC) has preserved ties with major U.S. banks despite the use of one of its branches in Manila by cyber criminals to funnel $81 million stolen from the Bangladesh central bank’s account at the Federal Reserve Bank of New York, officials said.

  • RCBC: We will be ready if Bangladesh sues

    The external legal counsel of Rizal Commercial Banking Corporation (RCBC) challenges the Bangladeshi government to disclose details of its own internal investigation into the $81-million cyber heist.

  • Taiwan's Cathay Financial vows support for RCBC after P1-B fine

    MANILA - Cathay Life Insurance Co Ltd, a unit of Taiwan's Cathay Financial Holding Co Ltd, will continue supporting partly owned Philippine lender Rizal Commercial Banking Corp (RCBC), despite a penalty imposed by the country's central bank over RCBC's role in a $81 million cyber-heist.

  • RCBC fined P1-B in money laundering case

    The Rizal Commercial Banking Corporation has been ordered to pay P1 billion for its role in the laundering of money stolen from the Bangladesh Central Bank.