BB Reserve Heist: CID Recovers $81m From RCBC
The move represents a major step forward in recovering the stolen funds.
The Criminal Investigation Department (CID) has recovered \$81 million from the Rizal Commercial Banking Corporation (RCBC) in the Philippines in connection with the 2016 Bangladesh Bank reserve heist.
CID Superintendent of Police Jasim Uddin confirmed the development in a press release issued on Sunday morning.
The press note stated that the recovery was carried out under a court order, marking a major step forward in retrieving the stolen funds.
The money was siphoned off by cybercriminals and laundered through RCBC after the notorious hacking of Bangladesh Bank’s account with the Federal Reserve Bank of New York.
More to follow\...
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