Bangladesh central bank - updates

Rappler's latest stories on Bangladesh central bank

ARTICLE FINDER

RCBC eyes lawsuit against Bangladesh Bank over heist claims

Feb 08, 2018 - 3:00 PM

This comes after the Bangladesh central bank's announcement that it would sue the listed Philippine bank over alleged involvement in the $81-million cyber heist

RCBC accuses Bangladesh central bank of cover-up

Dec 12, 2017 - 6:25 PM

The Rizal Commercial Banking Corporation says Bangladesh Bank is 'maligning RCBC and refusing to divulge its findings' on the $81-million heist

Bangladeshi officials assured of help in reclaiming laundered $15M

Aug 03, 2016 - 6:53 PM

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

JOHN GOMES. Bangladesh Ambassador to the Philippines John Gomes says after the Senate probe, the investigation on the Bangladesh Bank heist became quiet. Photo by Alecs Ongcal/Rappler

Only Kim Wong keeps promise to sign waiver on phone records

May 19, 2016 - 7:05 PM

The Senate is unable to gain access to the phone records of sacked RCBC branch manager Maia Santos Deguito and PhilRem owner Salud Bautista

STONEWALLED. Senate was supposed to look into the phone records of Wong (C), Deguito (L), and Bautista (R) to clarify their contradictory testimonies on who had given orders on delivery of the stolen funds

Gil Buenaventura is new RCBC president and CEO

May 16, 2016 - 5:56 PM

The 63 year old Development Bank of the Philippines chief will replace Lorenzo Tan as RCBC president and CEO starting July 1

NEW HEAD. Buenaventura, a seasoned banker, would become president and chief executive officer of RCBC starting July 1. Photo from DBP website

Kim Wong completes turnover of $15M to AMLC

May 04, 2016 - 7:05 PM

Amid legal battles casino junket agent Kim Wong keeps his promise to return some of the stolen funds in his possession

DIFFICULT TIMES. As most of his personal and corporate accounts were frozen, Kim Wong (front) says doing business has been difficult. Salud Bautista of PhilRem (back) during the continuation of the Blue Ribbon Committee hearing. Photo by Alex Nueva Espana/Senate PRIB

AMLC files money laundering complaint vs PhilRem execs

Apr 28, 2016 - 3:46 PM

The Anti Money Laundering Council says PhilRem officials were aware the funds coursed through the company were illegitimate as they deliberately ignored requirements to know the customer and record customer information

PHILREM. Salud Bautista of PhilRem responds to questions at the continuation of the Blue Ribbon Committee hearing on the alleged US $100 million that was laundered in Philippines. Photo by Alex Nueva Espana/Senate PRIB

SWIFT financial network warns of fraudulent messages

Apr 27, 2016 - 5:30 PM

SWIFT s statement is the first acknowledgment that the Bangladesh Bank heist is not an isolated case

AMLC begins bid to seize assets linked to $81M bank heist

Apr 19, 2016 - 7:55 PM

The Anti Money Laundering Council s first civil forfeiture case is against casino junket agent Kim Wong with more cases to come

MORE TO COME. 'We will do it by batch,' AMLC's Bacay-Abad says when asked when will it also file cases on casinos' assets. Photo by Alecs Ongcal/Rappler

Notary public denies signing affidavit of PhilRem messenger

Apr 19, 2016 - 3:49 PM

In his 7 years working as a PhilRem messenger Mark Raymond Palmares says the transaction related to the 81 million stolen funds from the Bangladesh Bank account is the largest so far

SENATE PROBE. (Left to right) Mark Raymond Palmares, PhilRem messenger, and his bosses, Salud and Michael Bautista, attend the Senate hearing on the Bangladesh bank heist on April 19, 2016. Photo by Chrisee dela Paz/Rappler

Kim Wong returns another P200M to AMLC for safekeeping

Apr 19, 2016 - 12:34 PM

Kim Wong s camp returns a total of 9 8 million of the stolen funds played in Eastern Hawaii Leisure

RETURNED FUNDS. Kim Wong's company Eastern Hawaii got hold of P1 billion or $21.575 million of the stolen funds. Photo by Mark Cristino/EPA

WATCH: Senate hearing on $81-M Bangladesh bank heist, Day 6

Apr 19, 2016 - 11:00 AM

Watch the recording of the 6th Senate hearing on the money laundering scandal on Tuesday April 19 at 10:30 am

BSP eyes bigger fines for banks violating anti-money laundering law

Apr 12, 2016 - 9:01 PM

For Senator Sergio Osmeña III the RCBC money laundering issue is just the tip of the iceberg

PROTECTION FROM MONEY LAUNDERERS.  BSP Deputy Governor Nestor Espenilla Jr says there is a basis to increase penalties for those violating AMLA laws. Photo by Alecs Ongcal/Rappler

BIR investigates PhilRem for possible tax evasion

Apr 12, 2016 - 7:24 PM

Senator Teofisto TG Guingona III says the committee is studying the possibility of holding PhilRem liable for contempt for the owners inconsistent testimonies

SOMETHING IS AMISS. BIR's Kim Henares says there is something wrong with PhilRem's business registration. Photo by Alecs Ongcal/Rappler

Senate blue ribbon chair to PhilRem chief: 'You're hiding something'

Apr 12, 2016 - 3:57 PM

At the resumption of the Senate hearing on the Bangladesh bank heist Internal Revenue Commissioner Kim Henares says PhilRem clearly violated tax regulations

IN THE MIDDLE. Founded in 1998, PhilRem is primarily established to engage in the business of remittance of money currency from abroad to be delivered to different parts of the Philippines. Photo by Alecs Ongcal/Rappler

RCBC: SWIFT messages from Bangladesh Bank 'vague,' 'not urgent'

Apr 12, 2016 - 1:46 PM

UPDATED The requests from the Bank of Bangladesh were not priority Some were even vague RCBC s Maria Cecilia Estavillo says

Photo by Alecs Ongcal/Rappler

Bank heist probe: Questions, contradictions hound PhilRem

Apr 12, 2016 - 10:15 AM

Money transfer services of PhilRem were used in the 81 million money laundering scam keeping the stolen funds out of sight and out of reach

CONNECTIONS. Salud Bautista of PhilRem (L) during the continuation of the Blue Ribbon Committee hearing. She is seated next to casino junket agent and an 'acquaintance' Kam Sin Wong (R). Photo by Alex Nueva Espana/Senate PRIB

WATCH: Senate hearing on $81-M Bangladesh bank heist, Day 5

Apr 12, 2016 - 8:26 AM

Watch the recording of the 5th Senate hearing on the money laundering scandal

RCBC's Tan sues Deguito, seeks P32M in damages

Apr 11, 2016 - 10:00 PM

RCBC president on leave Lorenzo Tan files charges against sacked branch manager Maia Santos Deguito over the Bangladesh Bank controversy

HEAD TO HEAD. Lorenzo Tan (L) files charges against Maia Santos-Deguito (R), accusing the ex-RCBC branch manager of libel and false testimony

SWIFT on $81M bank heist: Our system wasn't breached

Apr 07, 2016 - 4:55 PM

A SWIFT official says it is the responsibility of member banks to ensure there is nothing wrong in their payment transactions

NO LIABILITIES. SWIFT says it is not liable for the $81-million financial crime involving Bangladesh Bank and the Philippine financial system. Image from Wikipedia

BSP: Banks bear 'ultimate responsibility' in avoiding dirty money

Apr 06, 2016 - 8:48 PM

Amid the 81M heist probe the Bangko Sentral ng Pilipinas orders banks to take extra caution

DIRTY MONEY. The returned dirty money comes from casino junket agent Kim Wong. Photo from Bangko Sentral ng Pilipinas

Turnover of Bangladesh's missing millions will 'take a little time'

Apr 06, 2016 - 5:35 PM

5 46 million may have been returned by Kim Wong but the money is still not with the Bangladesh government

MOOD CHANGES. Bangladesh Ambassador to the Philippines Gomes (left) asks AMLC's Julia Bacay-Abad (right) for immediate turnover of returned funds. Photo by Chrisee Dela Paz/Rappler

Bangladesh envoy dismayed, witnesses stonewalled at 4th Senate probe

Apr 05, 2016 - 11:30 PM

At the end of the fourth Senate probe Bangladesh Ambassador to the Philippines John Gomes expresses disappointment on the state of the returned 4 63 million and P38 28 million funds by casino junket agent Kim Wong

DISMAYED. Bangladesh Ambassador to the Philippines John Gomes (center) gestures while sitting next to the Joint Director of the Bangladesh Financial Intelligence Unit Mohammad Abdur Rab (left) and Deputy General Manager of the Accounting and Budgeting Department of the Bangladesh Bank Jaker Hossain (right) during the Senate probe. Photo by Mark Cristino/EPA

Osmeña: $17M unaccounted money seems to be with PhilRem

Apr 05, 2016 - 10:36 PM

Senators catch the owners of money transfer firm PhilRem contradicting their earlier testimonies on their transactions linked to the Bangladesh Bank fund heist

MAJOR PLAYER. Senator Sergio Osmeña III scans photos of evidence submitted by Kim Wong. Photo by Alecs Ongcal/Rappler

AMLC to file case to seize entire $81M laundered money

Apr 05, 2016 - 3:30 PM

Asked if the casinos will contest the civil forfeiture case lawyers of Solaire and Midas say they have yet to explain options to clients

RETURN DIRTY MONEY. AMLC Executive Director Julia Bacay-Abad says her office will file a civil forfeiture case so the stolen money may be returned to Bangladesh Bank. Photo by Alecs Ongcal/Rappler

Senators note inconsistency in PhilRem's $81-M bank heist story

Apr 05, 2016 - 1:15 PM

The oath is to tell the truth not just the partial truth Every hearing you give a different story Senator Bam Aquino tells PhilRem owners

INCONSISTENCIES. The Senate blue ribbon committee points out some inconsistencies in PhilRem owners' testimonies. In the photo are owners of PhilRem, Salud Bautista and Michael Bautista. Photo by Alecs Ongcal/Rappler

WATCH: Senate hearing on $81-M Bangladesh bank heist, Day 4

Apr 05, 2016 - 11:30 AM

Watch here the recording of the 4th Senate hearing on the money laundering scandal Tuesday April 5 at 10:30 am

Kim Wong returns another P38.28M to AMLC

Apr 04, 2016 - 4:42 PM

The returned money comes from the stolen funds played in Eastern Hawaii Leisure Company Limited according to Kim Wong s legal counsel

MORE FUNDS RETURNED. Kim Wong's Eastern Hawaii got hold of P1 billion or $21.575 million of the stolen funds. Photos from Bangko Sentral ng Pilipinas

SWIFT system and the $81-M money laundering issue

Apr 03, 2016 - 3:18 PM

Behind many international money transfers is the SWIFT system — a messaging network used by banks and other financial institutions to securely and quickly send money transfer instructions

MT 103. A SWIFT code orders an inward remittance of $81 million to the Philippines from Bangladesh Bank

Not the first controversy for RCBC 'miracle man' Lorenzo V. Tan

Apr 02, 2016 - 5:18 PM

UPDATED When he led the United Coconut Planters Bank the bank faced a civil case for padding the loan obligation of a client

UNBLEMISHED? Lorenzo Tan says his track record of 18 years in the banking industry is 'unblemished.' Photo by LeAnne Jazul/Rappler

6 things we know about RCBC money-laundering scam

Apr 02, 2016 - 10:00 AM

Since the Anti Money Laundering Council started its probe into the heist on February 19 a lot has happened – from confessions to resignations

UNLEASHES. More leads surface as key witness Kim Wong faces the Senate, steering authorities to the location of the stolen money and two alleged main players in the money-laundering case. Photo by Alecs Ongcal/Rappler

Bangladesh authorities head to PH to probe heist

Apr 01, 2016 - 1:24 PM

Bangladesh Ambassador to the Philippines John Gomes hopes to recover the rest of the 81 million stolen from the country s central bank

RIGHT DIRECTION. Bangladesh Ambassador to the Philippines Maj. Gen. John Gomes says the return of $4.63 million from Wong is a step in the right direction. Photo by Alecs Ongcal/Rappler

Kim Wong returns $4.63M to AMLC

Mar 31, 2016 - 7:38 PM

Kim Wong keeps his promise to return the money left in the junket operation to AMLC

PROMISE KEPT. Kim Wong tells the Senate he would return the remaining money left under the junket operation. (L-R) Second Secretary  Probash Lamarong, AMLC Executive Director Julia Bacay-Abad, Insurance Commissioner Emmanuel Dooc, Inocencio Ferrer, and BSP Deputy Governor Vicente Aquino. Photo from BSP

William Go files 2 more forgery complaints vs Deguito, Torres

Mar 31, 2016 - 5:06 PM

From all the evidence presented to the public the former RCBC Jupiter Makati branch officers are now caught in their web of lies William Go says

SIMULATED FORGERY. William So Go says the forgery simply shows that he 'did not open the peso and dollar accounts with RCBC Jupiter.' Photo by LeAnne Jazul/Rappler

Casino junket operator gives new leads in Bangladesh bank heist

Mar 30, 2016 - 9:56 AM

More leads surface as key witness Kim Wong faces the Senate steering authorities to the location of the stolen money and two alleged main players in the money laundering case

DENIES. Kim Wong tells senators he does not know where the $81 million came from. Photo by Alecs Ongcal/Rappler

PhilRem, Kim Wong differ on missing $17-M Bangladesh Bank funds

Mar 29, 2016 - 8:09 PM

UPDATED Wong also vehemently denies any link to the money laundering scandal telling senators he does not know where the 81 million came from

KIM WONG. Appearing before the Senate, Kim Wong denies any links to money laundering operations. Photo by Alecs Ongcal/Rappler

After RCBC mess, Roxas wants tougher anti-money laundering law

Mar 29, 2016 - 7:00 PM

The presidential bet warns that if the situation is not addressed the Philippines might gain a reputation for being a money laundering center

The Senate probes on the Bangladesh bank heist on Mar 29, 2016. Photo by Alecs Ongcal/Rappler

$951M stolen money would have gone to RCBC

Mar 29, 2016 - 1:09 PM

UPDATED The hackers plan was to order 35 transfers worth 951M to RCBC then to 5 accounts in the bank says Senator Guingona citing data from Bangladesh Bank

PROOF. Senator Teofisto Guingona III shows a photo presented by casino junket agent Kim Wong during the third Senate hearing on the Bangladesh Bank heist. Photo by Alecs Ongcal/Rappler

WATCH: Senate hearing on $81-M Bangladesh bank heist, Day 3

Mar 29, 2016 - 12:43 PM

Watch the recording of the Senate hearing here

RCBC manager no-show at Senate probe, cites health

Mar 29, 2016 - 12:13 PM

She has health problems in a situation full of stress and strain former senator Rene Saguisag the co counsel of Maia Santos Deguito tells the Senate blue ribbon committee

ASSURANCE. Former senator Rene Saguisag, co-counsel of Maia Santos-Deguito, tells the Senate blue ribbon committee that her client vows to attend the next hearings. Photo by Alecs Ongcal/Rappler

Ex-RCBC branch head Deguito seeks week-long rest from Senate probe

Mar 28, 2016 - 6:20 PM

Maia Santos Deguito may not be able to attend the third Senate hearing on the Bangladesh Bank fund heist on March 29

RESPITE FROM PROBE. Ex-RCBC branch head Maia Santos-Deguito says she 'has health problems in a situation full of stress and strain, since last February 9.' Photo from EPA/Mark R. Cristino

Senate to 'close chapter' on William Go at 3rd hearing on stolen funds

Mar 26, 2016 - 4:15 PM

At the resumption of the probe into the Bangladesh bank heist the Senate blue ribbon committee plans to unravel more leads that will steer them to the real culprit

PLOT THICKENS. Some of the key resource people in the Senate probe are (left to right) Filipino-Chinese businessman William So Go, former RCBC President and CEO Lorenzo Tan, and PhilRem President Salud Bautista. Photos from LeAnne Jazul/Rappler

RCBC chief goes on leave amid Bangladesh bank heist probe

Mar 23, 2016 - 3:50 PM

UPDATED In a public apology the Yuchengco led bank says it will address any weaknesses in its controls and operations which may have facilitated the scheme

DEEP REGRETS. RCBC offers its sincerest apologies for the involvement of its personnel in the money laundering scheme. In the photo is RCBC President and CEO Lorenzo Tan. Photo by LeAnne Jazul/Rappler

AMLC sues businessmen linked to Bangladesh Bank fund heist

Mar 22, 2016 - 7:54 PM

Kim Wong has been tagged by Senator Serge Osmeña as a possible major player in the elaborately planned heist while Weikang Xu is a Chinese casino junket operator whose account was allegedly used for the scam

MORE CHARGES. As the probe on Bangladesh Bank heist drags on, more criminal charges were filed against people involved

Limited power restricts AMLC actions in Bangladesh Bank heist

Mar 22, 2016 - 6:33 PM

With no power to directly order freezing of accounts the Anti Money Laundering Council was unable to act swiftly on Bangladesh Bank s request

MORE TEETH. AMLC's Julia Bacay-Abad says the Philippines is not a haven for money laundering. Photo by LeAnne Jazul/Rappler

RCBC fires bank manager, ex-assistant; eyes sanctions vs others

Mar 22, 2016 - 5:43 PM

Other branch and bank officials are expected to be meted out various sanctions ranging from termination to suspension in the coming days when the internal investigation is expected to be completed says RCBC

'FIRED.' RCBC branch Manager Maia Santos Deguito takes her oath during the Senate hearing on the Bangladesh Bank heist on March 15, 2016.Photo by Mark R. Cristino/EPA

2 more criminal complaints against Deguito, Torres to be filed 'very soon'

Mar 21, 2016 - 6:59 PM

The duo falsified the bank opening documents for the purported peso and dollar accounts of Go with RCBC Jupiter branch Ex S R owner William So Go s legal counsel says

MORE CHARGES. The Filipino-Chinese businessman will file more charges against the RCBC branch manager who linked him to the Bangladesh Bank fund heist

Deguito: William Go wanted 10% of $81-M dirty money

Mar 21, 2016 - 2:53 PM

But Go s lawyer Ramon Esguerra denies this saying the RCBC branch manager was the one who offered the businessman P10 million to participate in the scheme

PLOT THICKENS. So Go is among those who are being investigated for a cross-border electronic fraud and money-laundering scheme. Photo by LeAnne Jazul/Rappler

4 new names emerge at Senate probe into Bangladesh bank heist

Mar 19, 2016 - 12:00 PM

The plot thickens as 4 new names surface at the Senate probe into the elaborately planned laundering of funds stolen from Bangladesh Bank

NEW CHARACTERS. The investigation over the mysterious electronic theft of $81 million from Bangladesh’s official account at the Federal Reserve Bank of New York drags on.

PhilRem to return over P10M profit to Bangladesh Bank

Mar 17, 2016 - 10:25 PM

This is not just as a sign of apology but as symbol of a Filipino company willing to find justice Salud Bautista president of the money transfer firm tells senators

VIOLATIONS? The Anti-Money Laundering Council says there may be basis to cite PhilRem Service Corporation with violations of AMLA. Photo by LeAnne Jazul/Rappler