Helen Yuchengco-Dee’s RCBC seeks damages from Bangladesh Central Bank in hacking scandal

Rizal Commercial Banking Corporation, chaired by bilyonaryo Helen Yuchengco Dee, has taken legal action against the Bangladesh Central Bank, as well as a former bank official, by filing a complaint for injunction and damages at the Regional Trial Court of Makati.

The move comes after RCBC offered to pay a P1 billion fine to the Bangko Sentral ng Pilipinas following the cyber heist in which $81 million of funds stolen from the Bangladesh Central Bank were withdrawn from the RCBC and never recovered.

According to RCBC, the Makati Regional Trial Court initially denied the motion to dismiss the case but has since reversed itself.

The court ruled that it had not obtained jurisdiction over the Bangladesh Central Bank as there were no provisions in the 1997 and 2019 Rules of Court on serving summons to a foreign public corporation that is not engaged in business in the Philippines.

In response, RCBC and its former officer are seeking to reverse the ruling and for the hearing judge to recuse themselves from the case.