HALISTER1: Philippines Probing Possible Case of Laundering: SEC Chairman

Philippines Probing Possible Case of Laundering: SEC Chairman

(Bloomberg) -- Anti-Money Laundering Council looking into alleged dirty money scheme involving casinos, SEC Chairman Teresita Herbosa told reporters in Manila late Tuesday.
  • “We’re bound by confidentiality under the law and we can neither confirm nor deny what’s the meat of their investigation but I guess I can admit that an investigation has been conducted”
  • NOTE: Herbosa is member of nation’s anti-money laundering council that’s headed by central bank Governor Amando Tetangco
  • Philippines one of probably only few countries in the world where casinos aren’t covered under anti-money laundering law: Herbosa
  • NOTE: Philippine Senator Seeks Casino, Land, Art in Launder List: DZMM Link
  • NOTE: Philippines Probes $100m Money Laundering Via Banks: Inquirer Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Teresita Herbosa ((PHL)Securities & Exch Cmmn)

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