Latest Stories

  • Senate eyes more powers for AMLC

    A new bill amending the anti-money laundering law is seeking to give more teeth to the Anti-Money Laundering Council including the power to freeze bank accounts and subpoena any person to produce information for verification and investigation.

  • Bangladesh to share findings of heist inquiry with Philippines

    DHAKA - Bangladesh will share findings from its investigation into how unidentified hackers pulled off one of the world’s biggest cyber bank heists to help speed up recovery of the stolen funds, its law minister said on Monday.

  • PH urges Bangladesh to share results of heist investigation

    The Philippine government wants Bangladesh to share the findings of its investigation into how unknown hackers pulled off one of the world's largest cyber bank heists, to help speed up recovery of the stolen funds.

  • RCBC shifts blame on Bangladesh Bank for $81-M heist

    Rizal Commercial Banking Corp. said Tuesday negligence on the part of the central bank of Bangladesh led to the theft of $81 million from the South Asian country's foreign reserves, as it maintained that it could not be held liable for the incident.

  • RCBC lawyer handling $81-M cyber-heist case resigns

    MANILA - The chief legal counsel who represented Rizal Commercial Banking Corp. (RCBC) in the $81 million money laundering case will step down from her post by the end of the year, the bank said on Tuesday.

  • Six in Philippines may face charges over Bangladesh bank heist charges

    The Philippines said Wednesday it has launched criminal proceedings against six bankers accused of failing to stop the laundering of tens of millions of dollars stolen by cyber-criminals from Bangladesh's central bank.

  • RCBC officials ignored 'red flags' in cyber-heist: dirty money watchdog

    The Anti-Money Laundering Council has filed charges against five officials of Rizal Commercial Banking Corp. and a former treasurer who "wilfully ignored" suspicious activity that led to tens of millions of dollars vanishing after a heist on Bangladesh's central bank.

  • RCBC execs face money laundering complaint over Bangladesh heist

    A money laundering complaint has been filed against the former treasurer of Rizal Commercial Banking Corp. and five other bank employees over the shifting of $81 million that was stolen from Bangladesh's foreign reserves to one of its branches.

  • Finance chief presses easing of bank secrecy law

    Finance Secretary Carlos Dominguez pressed lawmakers to relax bank secrecy laws, which he said was setting back the government's anti-crime campaign.

  • AMLC submits 'Bilibid accounts' after Duterte rant

    MANILA - Over an hour after President Rodrigo Duterte ranted against the Anti-Money Laundering Council (AMLC) on Monday, the institution responded to the National Bureau of Investigation's (NBI's) request for records of bank transactions of certain accounts being linked to the illegal drug trade at the New Bilibid Prison (NBP).