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Business

The Philippine bank at the center of a multimillion-dollar heist

Maia Santos-Deguito, the branch manager at the center of the scandal, testifies at the hearing.

MANILA   Can a multimillion-dollar dirty money transaction be orchestrated by a retail bank branch manager? Rizal Commercial Banking Corp., the former employer of Maia Santos-Deguito, would have you believe it can.

     On March 22, RCBC fired Deguito, the former manager of the bank's Jupiter Makati branch who finds herself at the center of an $81 million bank heist -- the one successful stage of an audacious attempt to steal $951 million from the foreign reserves of Bangladesh's central bank at the Federal Reserve Bank of New York.

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