$81 Million Seized from RCBC in Bangladesh Bank Reserve Theft Case

In connection with the Bangladesh Bank reserve theft case, authorities have seized $81 million from Rizal Commercial Banking Corporation (RCBC) in the Philippines.

CID’s Superintendent of Police (Media), Jasim Uddin Khan, confirmed the development, stating that the seizure was carried out through a court order. The head of CID is scheduled to brief the media on the matter at 3 p.m. today at the agency’s headquarters in Malibagh, Dhaka.

The reserve theft dates back to February 4, 2016, when hackers diverted $101 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York. While $20 million was recovered from Sri Lanka, the remaining $81 million moved through RCBC and was funneled into casinos in the Philippines.

After nearly eight and a half years of legal proceedings and international cooperation, this portion of the stolen money has finally been confiscated.