A security guard is seen outside a branch of Rizal Commercial Banking Corporation in the Philippines. File Photo: Reuters

A Dhaka court today directed the Criminal Investigation Department (CID) to submit the probe report in the Bangladesh Bank cyber heist case by July 2.

Dhaka Additional Chief Metropolitan Magistrate Wahiduzzaman passed the order after Raihan Uddin Khan, additional superintendent of police and investigation officer of the case, failed to submit the report by today.

With this, CID has taken 85 dates to complete its investigation into the case, which involves the heist of $101 million from Bangladesh Bank's account at the Federal Reserve Bank of New York in February 2016.

At least $81 million was transferred to accounts in Manila-based Rizal Commercial Banking Corp (RCBC), from where it disappeared into the Philippines' casinos.

Bangladesh Bank Deputy Director (Accounts and Budgeting) Zobayer Bin Huda filed the case with Motijheel Police Station on March 15, 2016.

So far, Bangladesh has retrieved $15 million from RCBC and another $20 million sent to a bank in Sri Lanka.

On February 1, 2022, Bangladesh Bank sued Rizal Bank in a US court to recover $66 million of stolen funds.

Meanwhile, on March 2, 2023, the New York Supreme Court allowed Bangladesh Bank's case concerning the $81 million cyber heist to proceed but dismissed several charges against RCBC.

The Appellate Division of the New York Supreme Court ruled to dismiss three causes of action—conversion, aiding and abetting conversion, and conspiracy to commit conversion -- against RCBC and its defendants.

It also dismissed the case against four RCBC defendants -- Ismael Reyes, Brigitte Capiña, Romualdo Agarrado, and Nestor Pineda -- due to a lack of personal jurisdiction.