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RCBC charged PhP1 billion over cyber heist

Photo credit :REUTERS
Photo credit :REUTERS

The Bangko Sentral ng Pilipinas (BSP) meted a Php1 billion penalty on the management of Rizal Commercial Banking Corporation (RCBC) after an investigation on the 81 million stolen money from the Bangladesh Central bank.

The investigation showed that stolen money was deposited in the RCBC Jupiter branch in Makati before it went to different casinos in Metro Manila.

The BSP announced that imposing this penalty on RCBC is part of the monetary board’s commitment to ensure the stability of the financial system through effective regulation.

The RCBC management vows to pay its PhP1-billion penalty.

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