As per the US law, money-laundering cases have to be filed within three years of the crime being committed, meaning Bangladesh Bank must proceed with legal actions by February 5
Finance Minister AHM Mustafa Kamal has said Bangladesh Bank (BB) will file a lawsuit in New York by February 3, accusing Philippines-based Rizal Commercial Banking Corp (RCBC), and Federal Reserve Bank of New York (New York Fed) for the much-talked-about $81 million cyber heist almost three years ago.
“Right now lawyers are working both in Bangladesh and New York about the procedures of the case and we will file the case by February 3,” The minister said this while speaking to journalists at the secretariat on Sunday.
As per the US law, money-laundering cases have to be filed within three years of the crime being committed, meaning Bangladesh Bank must proceed with legal actions by February 5.
Earlier a team, led by Md Ashadul Islam, secretary of the Financial Institutions Division (FID) under the Finance Ministry, left for New York on January 8, to hold discussions with a US-based law firm.
The team—which also includes Bangladesh Financial Intelligence Unit (BFIU) Chief Abu Hena Mohd Razee Hassan, Adviser Deb Prasad Debnath, and Joint Director Abdur Rab—will also meet representatives of the New York Fed and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to discuss further actions.
A central bank source revealed that once the team returns, a committee—comprised of the Bangladesh Bank governor, finance minister, law minister, and other senior government officials—will go to the US to file the lawsuit.
The source added that the Finance Ministry had planned to file the lawsuit in December, but had to postpone it because of the 11th parliamentary election held on December 30, 2018.