Gov’t vows to help Bangladesh recover funds

The head of the Duterte administration’s economic team said the government was vigorously helping Bangladesh’s central bank recover funds stolen through a cyberheist last February while highlighting the need for Bangladeshi officials’ cooperation in the investigation.

“We are pursuing the lawsuits on your behalf as vigorously as we can,” Finance Secretary Carlos G. Dominguez III told the Bangladeshi delegation led by Anisul Huq, minister of law, justice and parliamentary affairs, who visited Manila last week.

“The Department of Justice (DOJ) stands ready to assist you,” Dominguez added.

The delegation was seeking to recover the bigger chunk of the $81 billion stolen by hackers from Bangladesh Bank’s account following the recovery of $15 billion thus far.

Dominguez was quoted by the Department of Finance in a statement as saying that the Philippine government “strongly recommended that Bangladesh share with the DOJ and the Anti-Money Laundering Council the results of their investigation into the cyberheist.”

In particular, Bangko Sentral ng Pilipinas Deputy Governor Nestor A. Espenilla Jr. requested the Bangladeshi officials to provide the BSP with a full report on the investigation into the cyber-hacking incident to strengthen the Philippine government’s position, on Bangladesh’s behalf, in the court proceedings that aim to bring back the rest of the stolen funds,” the DOF said.

Espenilla also assured the Bangladeshi officials that the Philippines has an effective antimoney laundering system in place and that the BSP has already advised the parties involved to correct the deficiencies in their respective processes, the DOF added.

The Bangladesh officials, in response, said progress has been made in the investigation and that it would send the government whatever updates they have on the probe, according to the DOF.