The central bank on Monday said the involvement of a local bank and a remittance firm in the $81-million Bangladesh Bank heist could have been prevented if monetary authorities had supervisory powers over money service businesses (MSB) and were allowed by law to look into bank accounts.
“Earlier Mr. Senator you asked if the famous case could have been prevented. I think there would have been a better chance of detecting that at an early stage if the BSP [Bangko Sentral ng Pilipinas] had two things: One, supervisory powers over money service businesses; and two, the authority to look into the accounts,” BSP Governor Amando Tetangco Jr. told Senator Franklin Drilon during a joint meeting of the committees on banks and ways and means.
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