Rizal Commercial Banking Corporation (RCBC) president Lorenzo Tan has gone on indefinite leave of absence on the heels of the government’s probe on the US$81 million in dirty money that slipped through the cracks of the local financial system with the bank’s branch in Jupiter Street, Makati as the gateway.
The Philippines’ failure to address the loopholes in anti-money laundering safeguards could affect even foreign investments in the infrastructure space, a conduit for which is the Aquino administration’s flagship Public Private Partnership (PPP) program.
Philippine justice department summons the branch manager of Rizal Commercial Banking Corporation to answer the criminal complaint filed against her and several others by the Anti-Money Laundering Council in connection with the $81 million stolen by hackers from the Bangladesh Bank.
Maia Santos-Deguito, manager of Rizal Commercial Banking Corporation's (RCBC) Jupiter Street branch in Makati City of the Philippines is feeling the heat of the allegation of laundering $81 million stolen from the US account of Bangladesh Bank.
Rizal Commercial Banking Corporation (RCBC) president Lorenzo Tan has gone on indefinite leave of absence on the heels of the government’s probe on the US$81 million in dirty money that slipped through the cracks of the local financial system with the bank’s branch in Jupiter Street, Makati as the gateway.
The Philippines’ failure to address the loopholes in anti-money laundering safeguards could affect even foreign investments in the infrastructure space, a conduit for which is the Aquino administration’s flagship Public Private Partnership (PPP) program.
Philippine justice department summons the branch manager of Rizal Commercial Banking Corporation to answer the criminal complaint filed against her and several others by the Anti-Money Laundering Council in connection with the $81 million stolen by hackers from the Bangladesh Bank.
Maia Santos-Deguito, manager of Rizal Commercial Banking Corporation's (RCBC) Jupiter Street branch in Makati City of the Philippines is feeling the heat of the allegation of laundering $81 million stolen from the US account of Bangladesh Bank.
