The Palace is not backing proposals to ease the country’s bank secrecy law despite the laundering in the country of $81 million stolen from the Bangladesh Central Bank.

President Communications Undersecretary Manolo Quezon 3rd said that the recommendations of the Bangko Sentral ng Pilipinas (BSP) on the easing of bank secrecy laws have yet to be finalized with Philippine and foreign authorities and the Senate has yet to finish its investigation of the fund heist.

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