9th August 2016
A high-level delegation from Bangladesh will arrive next month seeking to recover the $81 million laundered in the Philippines. Read More
8th August 2016
President Rodrigo Duterte of the Philippines launched a purge of the ranks of politicians, judiciary and the armed forces Sunday by publicly announcing names of over 150 people he accused of being involved in illegal drug-related corruption. Duterte gave the people he named 24 hours to turn themselves in to… Read More
8th August 2016
THE IMPOSITION of a P1-billion penalty on Rizal Commercial Banking Corp. (RCBC)―the largest fine ever imposed by a regulator in local banking history―bolsters the argument the transfer of $81 million in funds stolen from the Bangladeshi central bank was facilitated at the RCBC head office and not at the branch… Read More
5th August 2016
Banking regulators on Friday imposed the single biggest monetary penalty on an erring financial institution in the country’s history, slapping the Yuchengco family-controlled Rizal Commercial Banking Corp. (RCBC) with a P1-billion fine in the wake of the Bangladesh Bank cyberheist. In a statement issued late Friday, the Bangko Sentral ng Pilipinas… Read More
4th August 2016
John Gomes: 'This case involving about $15 million is pending, but I think within one month they should be resolving that case and we will be getting back our money' Read More
2nd August 2016
Officials from the Bangladesh central bank are visiting Manila this week to pressure the authorities in the Philippines to find ways to return the $63 million that is still missing out of the funds stolen from its account at the Federal Reserve Bank of New York earlier this year, two… Read More
1st August 2016
Bangladesh plans to ask legislators in Manila to revive a probe into the disappearance of US$81 million of the South Asian nation’s reserves via the Philippine banking system and at least two local casinos. Two officials from the Bangladesh central bank will meet with Senate President Koko Pimentel later Monday… Read More
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