MANILA, Aug. 5 (UPI) -- A bank in the Philippines was ordered to pay a $21.3 million fine for its involvement in an $81 million cybertheft of Bangladesh Bank reserves.
A statement Friday from Bankgo Sentral ng Pilipinas, the Philippines' central bank, did not specify violations committed by Rizal Commercial Banking Corporation, but said the fine was the largest amount it has ever ordered. The bank said the fine would be paid in two installments over a one-year period, and that provisions for the penalty, and the installation of improved money-laundering safeguards, have been made.