Quinn Emanuel, a US law firm, has been hired to defend the suit, Rizal Commercial Banking Corp (RCBC) said in a stock exchange filing on Friday. Bangladesh Bank filed the lawsuit at the US District Court in Manhattan on Thursday evening, nearly three years after hackers stole $81 million from its account at the Federal Reserve Bank of New York. Based on what we have heard, this suit is completely baseless," Tai-Heng Cheng, Quinn Emanuel’s lead attorney to the case, was quoted in the filing as saying. The case arose from a February 2016 incident when hackers tricked the New York Fed into sending out the $81 million. Funds eventually landed in four accounts held in fake names at an RCBC branch in Makati City.

Source: bd News24 February 01, 2019 05:48 UTC