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The Department of Justice of the Philippines has pledged to resolve any remaining issue regarding the Bangladesh Bank heist in 2016, according to Philippine News Agency.
“We are trying to be of assistance to them. When our foreign friends ask for assistance, we do that. Tinutulungan talaga natin kasi (We help because) it’s a natural thing for us to do, between friendly nations. Remember that the Philippines was one of the first countries to recognize Bangladesh when it got its independence (in 1971),” DOJ Secretary Jesus Crispin Remulla told reporters on Friday.
“He is asking the DOJ to step in for an earlier settlement. Alam nyo naman (You know), litigation could be very expensive,” Remulla said, referring to Bangladeshi Ambassador to the Philippines Borhan Uddin.
The Supreme Court of New York has denied the motions filed by the Rizal Commercial Banking Corporation (RCBC) to dismiss a complaint filed by the Bangladesh Bank, according to international reports.
The decision dated January 13 ruled RCBC had “intentional participation” in stealing money from the Bangladesh Bank’s account in New York.
However, RCBC vowed to appeal the decision against the denial of its motion to dismiss.
“The ruling of the New York Court merely resolved the jurisdictional issues on whether the case initiated by Bangladesh Bank can actually be heard in New York instead of in the Philippines,” the bank said in a statement in January.
On February 4, 2016, hackers broke into the Bangladesh Bank firewalls and generated 70 fake payment orders to the Federal Reserve Bank of New York amounting to $1.94 billion.
The NY Fed’s security system flagged the payment orders but only five of them fell through and $101 million was released.
Of the amount, $81 million was wired to Rizal Commercial Banking Corporation in the Philippines, while $20 million made its way to Sri Lanka.
Sri Lanka sent back the entire sum immediately after the heist was exposed.
