The Criminal Investigation Department (CID) has seized $81 million from Rizal Commercial Banking Corporation (RCBC) in the Philippines in connection with the 2016 Bangladesh Bank reserve theft.

Jasim Uddin Khan, Superintendent of Police (Media ) at CID, confirmed the matter through a press note on Sunday morning.

According to the press note, the seizure was executed through a court order, marking a significant breakthrough in recovering the stolen funds.

The money had been siphoned off by cybercriminals and laundered through RCBC following the infamous hacking of the Bangladesh Bank’s account with the Federal Reserve Bank of New York.

On the night of February 4, 2016, $101 million was stolen from Bangladesh Bank’s reserve account at the Federal Reserve Bank of New York. Of this amount, $20 million was recovered from Sri Lanka. The remaining $81 million was funneled through RCBC Bank into various casinos in the Philippines. After nearly eight and a half years of legal proceedings and international cooperation, this money has finally been confiscated.