Malacañang on Saturday said the investigation being conducted by the Anti-Money Laundering Council (AMLC) of the illegal transfer of P100 million to local banks proves that the Philippines is not a safe haven for illicit funds.
“I think the discovery of this and its investigation is proof positive that we are a responsible member of the global banking community,” Presidential Communications Undersecretary Manuel Quezon 3rd said in a radio interview.
Quezon was referring to the money laundering that was discovered through several accounts opened at the Rizal Commercial Banking Corporation (RCBC) Jupiter branch in Makati City.
RCBC said it has launched its own investigation into the case, which involved funds obtained by hackers from the US dollar account of Bangladesh Bank, Bangladesh’s central bank, with the Federal Reserve of New York in February 2016.
The money was placed in several accounts with the RCBC Jupiter and was consolidated through an account reportedly owned by businessman William Go, owner of DBA Centurytex Trading.
Four persons —Enrico Teodoro Vasquez, Alfred Santos Vergara, Michael Francisco Cruz and Jessie Christopher Lagrosas—are being investigated by the AMLC.
Quezon gave assurances that the government will leave no stone unturned in its investigation.
“What is at stake here is the credibility of the country’s banking system,”the Palace official said.