HALISTER1: Philippine Anti-Laundering Agency Says Heist Action Wasn’t Slow

Philippine Anti-Laundering Agency Says Heist Action Wasn’t Slow

(Bloomberg) -- Anti-Money Laundering Council or AMLC had to conduct probe before seeking court order to freeze several bank accounts, Executive Director Julia Abad says at briefing in Manila.
  • Agency learned of heist when Bangladesh central bank called them on Feb. 11; AMLC filed petition for freeze on Feb. 29 and Court of Appeals issued freeze order day after
  • Rizal Bank filed suspicious transaction reports involving bank accounts on Feb. 12 after agency called its attention, could have acted on its own: Abad
  • Bank filed reports within 10-day period allowed by rules
  • Agency still looking at whether bank committed lapses: Abad
  • Rizal Bank shrs -2.4% to lowest since August 2011
  • NOTE: How $81 Million Slipped Through Philippine Cracks: Timeline Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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RCB PM (Rizal Commercial Banking Corp)

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