HALISTER1: Philippine Remittance Cos May Face More Hurdles After $81m Heist

Philippine Remittance Cos May Face More Hurdles After $81m Heist

(Bloomberg) -- Some Philippine remittance cos. finding it difficult to find correspondent banks to deal with them, Bangko Sentral ng Pilipinas Deputy Governor Nestor Espenilla says at Senate hearing in Manila.
  • Such difficulty already being felt even before $81m money laundering, but a situation like this can make it even harder for remittance cos.
  • No evidence of a rise in cost of remittance but “that is a concern”
  • NOTE: Network of 19 Gamblers to Be Focus of Philippine Heist Hearing Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

People
Nestor Espenilla (Bangko Sentral ng Pilipinas)

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