Bangko Sentral welcomes international coordination in Wirecard probe


Posted at Jul 17 2020 11:49 AM | Updated as of Jul 17 2020 11:58 AM

MANILA - The Bangko Sentral ng Pilipinas said Friday it was open to coordination with international authorities to hold individuals involved in the Wirecard scandal accountable.

The BSP and the Anti-Money Laundering Council are working closely with the National Bureau of Investigation along with "all relevant institutions" in probing the alleged disappearance of Wirecard's $2.1 billion, the BSP said in a statement.

"The BSP and the AMLC are working closely with the National Bureau of Investigation on the matter and is open to coordination with concerned international authorities to hold unscrupulous individuals accountable," the BSP said.

"Committed to full transparency on the matter, the BSP and the AMLC will be sharing updates on the issue as investigations progress...Strict regulations...will be used with their full force against any individual found culpable of wrongdoing," it said.

Two of the country's largest banks, BDO Unibank and the Bank of the Philippine Islands earlier said documents linking them to the German payment provider were "falsified."

BPI President Cezar Consing earlier said dragging the two Philippine banks in the scandal could be a "cover up."

A Filipino lawyer, who admitted to opening accounts for foreign nationals who want to invest in the country and was dragged into the controversy said he was "framed."

The BSP reiterated that "current evidence" showed that the money did not enter the country while assuring the public that the Philippine financial system has measures in place to curb suspicious transactions.