WHAT WENT BEFORE: $81M cyberheist

A cyberheist involving the theft of $81 million from the central bank of Bangladesh put the Philippines into the global limelight early this year.

In February, unknown hackers tried to steal some $1 billion from Bangladesh Bank’s account at the Federal Reserve Bank of New York.

Some attempted transfers were blocked, but $81 million was successfully transferred to accounts at Rizal Commercial Banking Corp.’s branch on Jupiter Street in Makati City.

The money was channeled to a foreign exchange dealer and transferred to accounts at other banks and to local casinos before being moved out of the country.

The Inquirer first reported the bank heist and the laundering of the stolen money through the Philippine financial system on Feb. 29.

Investigations have been conducted by the Federal Bureau of Investigation, Interpol, Bangladesh police and authorities in the Philippines.

Some $15 million has been returned by casino junket operator Kam Sin Wong (aka Kim Wong), who, during Senate investigations of the heist, admitted to have received $35 million but did not know the money was stolen.

A local court has cleared the return of the $15 million kept in the vault of the Bangko Sentral ng Pilipinas to the Bangladesh central bank. —INQUIRER RESEARCH

Source: Inquirer Archives