Bangladesh sues Philippines bank for US $81 million cyber-heist
The Bangladeshi government has filed a lawsuit in the US District Court in the Southern District of New York against Philippine bankers who conspired with North Korean hackers to steal US$81 million from Bangladesh’s central bank. In 2016, the Central Bank of Bangladesh held funds at the US Federal Reserve Bank in New York, which were fraudulently transferred to Rizal Commercial Banking Corp. (RCBC) in the Philippines by hackers. The cyber-heist included eight RCBC officers who conspired with casino operators, Chinese citizens, and the hackers who are believed to be North Korean. The court in this case will have to deal with multiple questions of jurisdiction since it is a multinational cybercrime.