$81-M Bangladesh bank heist: Where's the money now?

MANILA, Philippines (Updated lead photo March 22, 2019; 5:46 p.m.) — A high-level delegation from Bangladesh will arrive next month seeking to recover the $81 million laundered in the Philippines.

 

 

Close to $1 billion from the Bangladesh bank account at the Federal Reserve Bank of New York was targeted by hackers, but the US bank managed to stop 30 of the 35 transactions.

 

Five of the transactions amounting to $81 million went to fictitious accounts at the Rizal Commercial Banking Corp. Jupiter Street branch, allegedly facilitated by the bank's dismissed branch manager Maia Santos-Deguito and customer relations officer Angela Torres.

 

READ: DOJ to help Bangladesh recover $81 M 

 

Investigations by both the Senate blue ribbon committee and the Bangko Sentral ng Pilipinas (BSP) over the heist already ended.

 

Senate Minority Leader Ralph Recto said that the Bangladesh delegation should not leave our country without their money.

 

“In fact, they should not be made to beg for their money. It would even be wise if we could return the money before they arrive here. In this case, apologies must come with cash,” he said.

 

So far, the Anti-Money Laundering Council has accounted for $60 million of the stolen money. But the remaining $21 million has yet to be traced.

 

During the Senate probe, casino junket operator Kim Wong turned over $15 million. A lower court in Manila approved the forfeiture of the money turned over by Wong which is currently being kept at the BSP vault. To recover the money, the Bangladesh government should file a third-party claim.

 

Watch where the money went and how much of it is Bangladesh expecting to get back.