MANILA, Mar. 21 – The Philippines has shown the world that it is a responsible member of the banking community with its response to the $81-million bank heist in Bangladesh recently, in which the stolen money ended up in a Philippine bank and casinos, a Palace official said.
In a radio interview Saturday, Undersecretary Manuel Quezon III said the Anti-Money Laundering Council, through the Office of the SolGen (Solicitor General), filed ex parte petition for the issuance of a freeze order with the Court of Appeals against RCBC bank accounts that received inward remittance totaling $81 million under the account name William S. Go.
When the money arrived in the Philippines, Quezon told dzRB Radyo ng Bayan that Philippine authorities sounded the alarm bells for a thorough investigation, he said.
Other countries have been cooperating and there have been reports that AMLC is working with the Federal Bureau of Investigation of the United States.
“So definitely we are working with everyone to ensure there is transparency and para malaman ang talagang nangyari at paano ito mapre-prevent na mangyari ulit,” he said.
“We should be aware that sineseryoso ito ng Bangko Sentral ng Pilipinas, pinapakita ng AMLC na ginagampanan nito ang kanyang trabaho. The Senate is holding hearings in aid of legislation and in fact the Bangko Sentral and the BIR have been giving their recommendations.”
And as the present Congress closes, the groundwork is being laid for future reforms that will further improve the system, the Palace official said.
For those who fear about the impact of the controversy to the country’s financial system, Quezon made an assurance that the government will hold accountable those who are involved in the heist.
“I think you can see from… kahit sa media coverage abroad and coverage here, siyempre may mananagot na mga opisyales, lalo na doon sa bangkong apektado at ‘yun nga ang inimbestiga ngayon but on the whole, you can see that the system is working,” he said.
“In other words, na-expose at inimbestigahan, nahuli at may ginagawang action pagdating sa nakaka-abalang kwento na paano ba nakuha ang pera na ito mula sa isang central bank, at pinadala sa iba’t ibang bahagi ng mundo.”
With regards to calls to ease the Bank Secrecy Law in the country, Quezon said that while the BSP wants a stricter rules in the banking system, it hasn’t come up with specific recommendations it wants.
The Palace will wait on the recommendations by the BSP, and by Congress about specific actions on how to ease the Bank Secrecy Law, he said. (PND)