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Manila ex-banker gets jail, $109 mn fine over Bangladesh cyberheist

From sg.news.yahoo.com

A Philippine ex-banker was handed a lengthy jail term and $109 million fine Thursday in the first conviction over one of the biggest ever cyberheists which saw $81 million stolen from Bangladesh's central bank. Shadowy hackers transferred the cash in 2016 from Bangladesh's US accounts to Philippine bank Rizal Commercial Banking Corp (RCBC), where it was swiftly withdrawn. The theft exposed the Philippines as a haven for dirty money, where some of the world's strictest bank secrecy laws protect account holders from scrutiny. A Manila court found Maia Deguito, who was an RCBC branch manager where the money landed, ... (full story)

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