29th July 2016
The Federal Reserve Bank of New York has asked the Philippines’ central bank to help Bangladesh Bank recover the $81 million that was stolen by hackers in February from its account held at the Fed, boosting Dhaka’s efforts to retrieve the money. In a letter sent on June 23, the… Read More
26th July 2016
The Bangladesh central bank said on Tuesday its Philippine counterpart had nearly completed an investigation into how $81 million of its money wound up in a Manila bank, and that it hoped for the swift return of the stolen funds. Governor Fazle Kabir told reporters he hoped the Philippine authorities… Read More
6th July 2016
A bill that calls for casinos to be covered by the Anti-Money Laundering Act of 2001 has been submitted to the Philippine House of Representatives, local media reported. The proposed legislation came as a response to President Rodrigo Duterte’s recently announced campaign for strengthening the country’s anti-money laundering prevention and… Read More
29th June 2016
Rodrigo Duterte will take his oath of office on Thursday as the Philippines’ 16th president. On the campaign trail, the tough-talking former mayor from southern Philippines’ Davao City has promised to “kill” drug lords and shame corrupt government officials and policemen suspected of colluding with criminals. “We’ll just make this… Read More
6th June 2016
Digital currencies will be covered in updated regulation. Banks’ know-your-client operations under tighter scrutiny. Read More
10th May 2016
The Philippines started the process to strengthen its anti-money laundering and bank secrecy laws on Tuesday, aiming to plug loopholes that allowed $81 million stolen in one of the world's biggest cyber heists to pass through Manila banks and casinos. Read More
5th May 2016
The Philippines ombudsman plans to file corruption charges against Binay, 73, after he finishes his term of vice president based on an investigation into several contracts with alleged irregularities while he was mayor of Makati City, the country's premiere financial district, including a 2.7 billion peso ($58.7 million) parking building. Read More
5th May 2016
Casino junket operator Kim Wong has completed the turnover to the Anti-Money Laundering Council for safekeeping an amount believed to be part of the $81 million stolen from the Bangladesh central bank. Read More
29th April 2016
A Philippine anti-money laundering body has lodged a complaint against owners of a remittance firm it called a "cleaning house" to hide the trail of $81 million looted from a Bangladesh bank, in one of the biggest cyber heists in history. Read More
28th April 2016
A Philippine anti-money laundering body has lodged a complaint against owners of a remittance firm it called a "cleaning house" to hide the trail of $81 million (55.58 million pounds) looted from a Bangladesh bank, in one of the biggest cyber heists in history. Read More