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Philippines’ RCBC sues ‘vicious’ Bangladesh Bank over heist claim

A Philippine bank has filed a lawsuit accusing Bangladesh’s central bank of defamation, hitting back at what it says are baseless claims of its complicity in the world’s biggest cyber heist. In February 2016, criminals used fraudulent orders on the SWIFT payments system to steal $81 million from the Bangladesh… Read More

SWIFT says helping Bangladesh Bank rebuild network after cyber heist

International payments network SWIFT said on Saturday it had signed an agreement with Bangladesh’s central bank to help it rebuild its infrastructure after hackers used it to steal $81 million in 2016 in the world’s biggest cyber heist. Unidentified hackers, suspected to be from North Korea, carried out the heist… Read More

Bangladesh to sue Manila bank over $81 million cyber heist: cenbank governor

Bangladesh will file a lawsuit in a U.S. court on Wednesday against Philippine bank Rizal Commercial Banking Corp (RCBC) over its role in one of the world’s biggest cyber-heists, the Bangladesh central bank governor said. In February 2016, unknown criminals used fraudulent orders on the SWIFT payments system to steal… Read More

12th November 2018

Philippines’ ex-first lady Imelda Marcos to appeal court’s graft ruling

The Philippines’ anti-corruption court on Friday ordered the arrest of former first lady Imelda Marcos after finding her guilty on seven counts of graft during the two-decade rule of her husband and former dictator, Ferdinand Marcos. But Marcos, 89, famous for a huge collection of shoes, jewellery and artwork, can… Read More

2nd April 2018

Malaysian central bank SWIFT network targeted, Philippine banks ‘alert’

The Philippine central bank issued a notice to its banks to be ‘extra careful’ during the holiday following a cyber attack at Malaysia’s central bank. On Tuesday Bank Negara Malaysia (BNM) identified a cyber attack which is understood to have involved ‘falsified wire-transfer requests over the SWIFT bank messaging network,’… Read More

5th February 2018

Money laundering: Philippine Senator seeks legislative probe of Duterte’s transactions

A Philippine senator and staunch critic of President Rodrigo Duterte on Monday filed a resolution seeking a legislative inquiry into whether Duterte and his eldest daughter had concealed assets amounting to almost $2 million. Senator Antonio Trillanes asked the Senate committee on banks, financial institutions and currencies to probe deposits… Read More

8th December 2017

Bangladesh Bank, NY Fed discuss suing Manila bank for heist damages

Bangladesh’s central bank has asked the Federal Reserve Bank of New York to join a lawsuit it plans to file against a Philippines bank for its role in one of the world’s biggest cyber-heists, several sources said. The Fed is yet to respond formally, but there… Read More

23rd November 2017

Australia, Philippines to lead new regional counter-terror funding group

KYC360 News Australian regulator Austrac and the Philippines Anti-Money Laundering Council (AMLC) are to co-lead a new counter terrorism funding (CFT) regional group. The South East Asia Counter Terrorism Financing Working Group (SEA CTFWG) aims to focus on preventing terrorists from gaining access to banks and receiving funds… Read More

28th September 2017

Philippines’ Duterte welcomes probe into allegations he hid wealth

Philippine President Rodrigo Duterte welcomes an investigation by the state’s anti-corruption agency into allegations by a senator that he failed to disclose his wealth when he was a city mayor, his spokesman said on Wednesday. The Office of the Ombudsman confirmed on Tuesday it has initiated an inquiry into activities… Read More

18th September 2017

Philippine lawmaker urges more action on Bangladesh $81m heist

Senate President Aquilino “Koko” Pimentel III called on concerned government agencies to step up their efforts to run after those who had a hand in stealing $81 million from the Bangladesh bank account. Pimentel underscored the swift recovery of the stolen money in the $81-million cyberheist last year especially that… Read More

5th September 2017

Bangladesh central bank team to visit Manila regarding heist

Bangladesh’s central bank will send a team of officials to the Philippines on Tuesday to push for the recovery of more of the $81 million stolen from its account at the New York Federal Reserve last year and routed through a bank in Manila. Bangladesh Bank has been able to… Read More

24th August 2017

Philippine senators want transparency over poll chief’s bank deposits

A Senate committee on Wednesday requested Commission on Elections Chairman Andres Bautista to sign a waiver on secrecy of bank deposits. The Senate committee on Banks, Financial Institutions and Currencies, which is currently investigating the alleged ill-gotten wealth of Bautista and his possible violation of the anti-money laundering law, also… Read More

11th August 2017

Philippines removed from AML watch after casino inclusion

The Philippines has been removed from an international money laundering watch list after enacting a law that brings the nation’s casinos within the scope of the country’s Anti-Money Laundering Act, said the Anti-Money Laundering Council (AMLC) in a press release. According to the announcement, the decision to remove the Philippines… Read More

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