HALISTER1: Expanded Philippine Dirty Money Law Fills Legal Gaps: Espenilla

Expanded Philippine Dirty Money Law Fills Legal Gaps: Espenilla

(Bloomberg) -- Changes to Philipines’ anti-money laundering law, including inclusion of casinos, “significantly strengthen” nation’s ability to prevent entry of illicit money, Bangko Sentral ng Pilipinas Governor Nestor Espenilla says in mobile-phone message to reporters.
  • “It plugs a critical gap in our legal framework,” he says
  • NOTE: Duterte Approves Casino Inclusion in Law Against Dirty Money
  • NOTE: Last year, thieves stole $81m from Bangladesh central bank after hacking into its account at U.S. Fed, routed funds to accounts at Manila-based Rizal Bank and laundered them through southeast Asian nation’s casinos, where the trail went cold
To contact the reporter on this story: Siegfrid Alegado in Manila at aalegado1@bloomberg.net To contact the editors responsible for this story: Clarissa Batino at cbatino@bloomberg.net Ditas Lopez

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

People
Nestor A Espenilla Jr (Bangko Sentral ng Pilipinas)

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