SWIFT has no rule specifically requiring client banks to report hacking thefts but says it requires customer to notify SWIFT of problems that can affect the "confidentiality, integrity, or availability of SWIFT service."
In the years leading up to hackers stealing $81 million from a Bangladesh central bank account at the Federal Reserve Bank of New York, senior Fed security officials examined the risk of such an attack - but judged the prospect unlikely, bank sources said.
Former Rizal Commercial Banking Corp (RCBC) Branch Manager Maia Santos-Deguito denies involvement in the transfer of stolen $81-million funds from the Bangladesh Bank (BB) to RCBC using fictitious accounts.
Prime Minister Sheikh Hasina says instant and proper measures taken by the Bangladesh Bank after the heist from its fund with Federal Reserve Bank of New York prevented hacking of a larger sum of money.
Bangladesh's central bank was vulnerable to hackers because it did not have a firewall and used second-hand, $10 switches to network computers connected to the SWIFT global payment network, an investigator into one of the world's biggest cyber heists says.
Casino junket operator Kim Wong returns another $4.34 million to the Anti-Money Laundering Council (AMLC), which was believed to be part of the alleged $81-million stolen funds from the Bangladesh’s central bank.
Three messages sent by the Bangladeshi central bank to the Rizal Commercial Banking Corp. (RCBC) on the morning of February 9, alerting the Yuchengco-controlled financial institution to the dubious provenance of the $81 million that was later revealed to be the largest money laundering caper in Philippine history.
The Philippines must make sure casinos are covered by anti-money laundering legislation, the World Bank says, joining calls for the government to better regulate its gambling industry after stolen millions from Bangladesh found their way to Manila.
Philippine senators debate whether or not the alleged stolen funds recovered from casino junket operator Kim Wong can be turned over to the government of Bangladesh without a court’s order.