Philippine bank says it preserves ties with big US banks despite heist role

A security guard stands guard outside a branch of Rizal Commercial Banking Corporation (RCBC) in Paranaque city, Metro Manila, Philippines August 2, 2016. REUTERS/Erik De Castro

MANILA: Rizal Commercial Banking Corp (RCBC) officials say they have preserved ties with major US banks despite the use of one of its branches in Manila by cyber criminals to funnel US$81mil (RM323.02mil) stolen from the Bangladesh central bank’s account at the Federal Reserve Bank of New York. 

The money was sent to RCBC by three of its so-called correspondent banks, Wells Fargo, Citigroup’s Citibank and the Bank of New York Mellon, in February, before mostly being laundered through the Philippines' casino industry. Only US$18mil (RM71.78mil) has been recovered.