Thursday, June 27, 2019
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Manila ex-banker jailed, fined over cyberheist

Manila: A Philippine ex-banker was handed a lengthy jail term and $109 million fine Thursday in the first conviction over one of the biggest ever cyberheists which saw $81 million stolen from Bangladesh’s central bank.
Shadowy hackers transferred the cash in 2016 from Bangladesh’s US accounts to Philippine bank Rizal Commercial Banking Corp (RCBC), where it was swiftly withdrawn.
The theft exposed the Philippines as a haven for dirty money, where some of the world’s strictest bank secrecy laws protect account holders from scrutiny.
A Manila court found Maia Deguito, who was an RCBC branch manager where the money landed, guilty on eight counts of money laundering which carry a minimum of four years each behind bars. The court also ordered her to pay $109 million in fines. Deguito plans to appeal and can remain free on bail until the conviction is finalised. (AFP)

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