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Wirecard scandal used names of PH banks to 'cover perpetrators tracks': BSP Diokno

ABS-CBN News
Updated as of Jul 06 04:07 PM

The Wirecard scandal used the names of the country's top lenders to cover fraudsters tracks, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday.  Read more »

Philippine financial system 'sound', strict rules in place for bank certifications: BAP

ABS-CBN News
Posted at Jun 30 10:13 AM

The Bankers Association of the Philippines said Tuesday the country's financial system was "sound" despite some rogue individuals who falsified documents to link local banks to the Wirecard scandal.  Read more »

Anti-Money Laundering Council promises 'swift and thorough' probe of Wirecard

Reuters
Updated as of Jun 29 05:18 PM

MANILA -- The Philippines' anti-money laundering agency on Monday said it would conduct a "swift and thorough" investigation into scandal-hit German payments firm Wirecard AG and that it has drawn up an initial list of people and entities of interest. Read more »

ALAMIN: Payo ng mga bangko para makaiwas sa phishing

ABS-CBN News
Updated as of Jun 28 10:52 PM

MAYNILA - Sa isang iglap, nawala ang P47,000 na ipon ni “Trina” at ng kaniyang asawa para sa kanilang sanggol na anak.    Read more »

PH Anti-Money Laundering Council probes Wirecard scandal

ABS-CBN News
Posted at Jun 25 06:04 PM

MANILA - The Anti-Money Laundering Council said Thursday it was working with the National Bureau of Investigation to probe the scandal over German payment provider Wirecard's missing $2.1 billion in funds and the alleged involvement of some Philippine banks and nationals. Read more »

Justice chief cites 'indications' controversial Wirecard ex-COO in PH

Mike Navallo, ABS-CBN News
Posted at Jun 24 05:16 PM

MANILA - A former executive of scandal-hit German payment processor firm Wirecard may be in the Philippines, Justice Secretary Menardo Guevarra revealed Wednesday, as more details emerged surrounding the company's missing $2.1 billion funds.   Read more »

Filipino in Wirecard case claims getting death threats, insists he was framed

Jacque Manabat, ABS-CBN News
Updated as of Jun 24 01:07 AM

MANILA (UPDATED) - Despite being with 2 bodyguards when he alighted from his SUV, lawyer Mark Kristopher Tolentino was still hesitant to grant an interview.  Read more »

Former CEO of scandal-hit Wirecard arrested in Germany

Michelle Fitzpatrick, Agence France-Presse
Posted at Jun 23 05:42 PM

The former chief executive of Wirecard, Markus Braun, has been arrested on suspicion of market manipulation, German prosecutors said Tuesday, after the payments provider admitted that 1.9 billion euros ($2.1 billion) missing from its accounts likely "do not exist".   Read more »

BDO seeks to consolidate brokerage business

ABS-CBN News
Posted at Jun 23 04:49 PM

BDO Unibank on Tuesday said it would acquire its Japanese partner’s stake in BDO Nomura Securities to consolidate its brokerage businesses.  Read more »

BPI sees 'cover-up' in Wirecard puzzle that dragged Philippine banks

ABS-CBN News
Posted at Jun 23 11:20 AM

Dragging two of the Philippines' largest banks in the alleged disappearance of $2.1 billion from German payments firm Wirecard could be part of a cover-up, the head of one of the lenders said Tuesday. Read more »

Wirecard thinks its $2.1 billion cash was a fiction in growing 'disaster'

Patricia Uhlig, Karen Lema and John O'Donnell, Reuters
Posted at Jun 22 11:27 PM

FRANKFURT/MANILA - Wirecard said on Monday that 1.9 billion euros ($2.1 billion) it had booked in its accounts likely never existed, a black hole that threatens to engulf the payments firm and tarnish the reputation of Germany's financial watchdog. Read more »

Five things to know about the Wirecard scandal

Agence France-Presse
Posted at Jun 22 09:47 PM

Here are the most important facts about a scandal that is drawing comparisons with the collapse of US energy company Enron in the early 2000s over accounting fraud. Read more »

Missing $2.1 billion likely 'do not exist,' says Wirecard

Reuters
Posted at Jun 22 11:59 AM

Wirecard AG said on Monday that there was a likelihood that the missing amount of 1.9 billion euros ($2.13 billion) from its accounts simply did not exist.  Read more »

Heed 'lessons' in Wirecard woes, BSP tells banks

ABS-CBN News
Updated as of Jun 22 10:42 AM

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Monday banks should strengthen know-your-customer protocols and tighten watch over employees after 2 of the country's largest lenders were dragged in German payment firm Wirecard's woes. Read more »

German firm's missing money did not enter Philippines: central bank

ABS-CBN News
Updated as of Jun 21 11:12 PM

Some $2.1 billion missing money of German firm Wirecard did not enter the Philippine financial system, the central bank said Sunday. Read more »

Wirecard slumps 40 percent as search for missing billions turns to Philippines

Michelle Martin and John O'Donnell, Reuters
Updated as of Jun 21 03:19 PM

Wirecard shares fell by more than 40 percent as two Philippine banks said the German payments company, which is scrambling to find $2.1 billion missing from its accounts, was not a client and alleged that documents had been falsified. Read more »

BDO warns vs ‘money mule’ recruiters exploiting COVID-19 crisis

ABS-CBN News
Updated as of May 28 09:25 AM

BDO Unibank on Wednesday warned the public against a new scheme used to launder ill-gotten gains by offering money to people who would lend their bank accounts. Read more »

BDO 'working hard' to fix digital channels clogged by surge in transactions

ABS-CBN News
Updated as of May 22 08:22 PM

The BSP has urged Filipinos to use digital platforms to transact while on lockdown. The BSP's PesoNet and InstaPay platforms allow bank to bank "cashless" transfers.  Read more »

Fitch affirms ratings of 3 of Philippines' biggest banks

ABS-CBN News
Posted at May 14 11:18 AM

Fitch Ratings said Thursday it affirmed the credit ratings of 3 of the Philippines' largest banks due to their ability to withstand the COVID-19 pandemic. Read more »

BDO flags 'verify account' scam on e-mail

ABS-CBN News
Updated as of Apr 08 05:45 PM

BDO Unibank on Wednesday warned against an e-mail scam that prompts clients to "verify" their accounts, as millions remained locked down in their homes to stop the COVID-19 pandemic. Read more »