Bangladesh Bank, NY Fed Discuss Suing Manila Bank For Heist Damages (reuters.com)

An anonymous reader shares a report: Bangladesh's central bank has asked the Federal Reserve Bank of New York to join a lawsuit it plans to file against a Philippines bank for its role in one of the world's biggest cyber-heists, several sources said. The Fed is yet to respond formally, but there is no indication it would join the suit. Unidentified hackers stole $81 million from Bangladesh Bank's account at the New York Fed in February last year, using fraudulent orders on the SWIFT payments system. The money was sent to accounts at Manila-based Rizal Commercial Banking Corp and then disappeared into the casino industry in the Philippines.

Comments

Re:Precedent

[gurps_npc]

If someone at the Philippines bank facilitated a theft from the Bangladesh bank, then the Bangladesh people can and SHOULD sue the Philippine bank.

Even if some people at the Bangladesh bank also facilitated the theft.

If your neighbor's son helps your son steal from you, damn right you would want your neighbor to at least partially reimburse you for the damage.

Even if you are talking 10%, that's a lot of money.