April 12, 2016
Our world /
Posted by NCID

The Philippine financial system was rocked by the country’s largest electronic heist in its history. USD81Mn was hacked, stolen, and laundered from the US dollar account of Bangladesh Bank (Central Bank of Bangladesh) at the US Federal Reserve of New York and remitted to the RCBC (Rizal Commercial Banking Corporation), one of the Philippine’s largest banks. The whole fiasco turned into a firestorm forcing the resignation of Bangladesh Central Bank governor Atiur Rahman to resign from the top post and prompting the Philippine upper chamber, the senate, to start proceedings for a formal i...

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