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International relations

Philippines central bank fines RCBC over $81m Bangladesh heist

MANILA -- The Bangko Sentral ng Pilipinas, the country's central bank, has imposed a record 1 billion pesos ($21.3 million) fine against local group Rizal Commercial Banking (RCBC) for its involvement in the $81 million Bangladesh Bank heist in February.

RCBC told the local stock exchange it will pay half of the penalty immediately while the balance will be paid in a year.

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