MANILA, Philippines — The Department of Justice (DOJ) has indicted five officials of Rizal Commercial Banking Corp. (RCBC) in connection with the $81-million Bangladesh Bank heist in 2016. In a 10-page resolution approved by acting Prosecutor General Richard Anthony Fadullon, the DOJ found probable cause in the complaint for violation of Republic Act 9160 (Anti-Money Laundering Act) filed by the Anti-Money Laundering Council against the bank officers. Assistant State Prosecutor Mary Jane Sytat said the defendants allowed the transactions on stolen funds despite notices and warnings received by the settlement department of Bangladesh Bank. “The RCBC officers allowed the transactions to push through even if the red flags were all over,” the prosecutor said. Last January, Makati RTC Branch 149 Judge Cesar Untalan sentenced former RCBC bank manager Maia Deguito to up to seven years in prison for money laundering.

Source: Philippine Star May 22, 2019 21:01 UTC