CENTRAL BANK THEFT – CASINO REPERCUSSIONS: THE PHILIPPINES – STORY UPDATE
November 1st, 2016
Central Bank theft – casino repercussions: the Philippines
The theft in February of $101m from the Bangladesh Bank account at the Federal Reserve Bank New York in an audacious hack of SWIFT codes saw funds flow to casino accounts at Rizal Commercial Banking Corporation in the Philippines. The administration of President Duterte is under pressure to act but there are reasons to stall, finds Jens Kastner.
The Philippines has stood accused of passively aiding money launderers and terrorist financers ever since its Anti-Money Laundering Act 2001 exempted local ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.