More than $30 million of the money from the hackers stole from the Bangladesh central bank’s account was reportedly handed over to a Chinese man in Manila, a Philippine senator looking into the case said.
“Obviously, this is not one bang, it was done in instalments,” Teofisto Guingona, head of the Philippine Senate’s anti-corruption committee, told Reuters on Tuesday, ahead of a panel hearing on the case.
The hackers tried to withdraw about $951 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York, but other transactions were blocked after the cyber criminals misspelled “foundation,” leading to a request for clarification from a routing bank.
The Bangladesh Bank suspects that the money was sent to the Philippines and diverted to casinos.
They are now working with the anti-money laundering authorities in the Philippines to recover the funds.
Last week, the Rizal Commercial Banking Corp (RCBC) said that it was investigating an $81 million deposit at one of its branches.
According to Guingona, CCTV cameras at the branch were not operating when the money was withdrawn. But based on the investigations, the money then went via a foreign exchange broker called Philrem Service Corp. to the Chinese man and two casinos.
Guingona said that it was not immediately clear if the man was of mainland Chinese or Taiwanese nationality.
An RCBC spokesperson declined to comment about the CCTV cameras at the branch the money was withdrawn.
While Philrem Service Corp refused to comment on the matter.