Staff Reporter :
Bangladesh Bank has so far spent Tk 3.0 crore for its legal action against Rizal Commercial Banking Corp over its $81 million fund stolen from the New York Federal Reserve Bank in 2016
“The money has been spent on various procedures in filing the lawsuit and payment of the US law firm,” Abu Hena Mohd Razee Hassan, head of the Bangladesh Financial Intelligence Unit (BFIU) told reporters at a press briefing at Bangladesh Bank’s headquarter on Sunday.
Bangladesh Bank (BB) filed the case before the U.S. District in Manhattan on Thursday, accusing Manila-based Rizal Commercial Banking Corp (RCBC) and dozens of others, including several top executives, of involvement in a ‘massive’ and ‘intricately planned’ multi-year conspiracy to steal its money.
“A BB team is working to pursue the case. Besides, we have engaged a US law firm to follow the court procedure. The consultants of the law firm will be paid on hourly basis,” said Razee Hassan. He said the central bank took much time to file the lawsuit to obtain the much needed documents and evidences on the cyberheist.
In February 2016, unidentified hackers stole $81 million from the Bangladesh central bank’s account with the US Federal Reserve in New York.
The money was then transferred to a Manila branch of the RCBC, swiftly withdrawn and laundered through local casinos.
Responding to a question, Razee Hassan said, the case was filed in line with the government’s decision. It was filed to try the culprits and retrieve the stolen funds.
“So, the cost of running the case does not matter. Our goal is get back the fund,” he added.
Bangladesh Bank’s lawyer Ajmalul Hossain QC, BFIU’s consultant Debaprosad Debnath, Bangladesh Bank’s Executive Director and spokesperson Md Sirajul Islam, were present at the press briefing, among others.
Lawyer Azmaul Hossain said, the case is expected to be resolved within three years. The time may be reduced or increased depending on court procedures and other circumstances.
He said the Federal Reserve Bank of New York (Fed) will provide all the documents and witness in the case.
“Bangladesh Bank and New York Fed have already signed a deal in this regard,” he added.
