Bangladesh sues Philippines bank for US $81 million cyber-heist
The Bangladeshi government has filed a lawsuit at 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.
About author
DW Team
The GIP Digital Watch Observatory team, consisting of over 30 digital policy experts from around the world, excels in the fields of research and analysis on digital policy issues. The team is backed by the creative prowess of Creative Lab Diplo and the technical expertise of the Diplo tech team.