ON Thursday evening, a report circulated that RCBC, better known these days as “the bank up to its eyeballs in the fallout from the biggest single bank robbery in history,” had disclosed that it shut down its remittance office in Rome, “because it could not meet on time the computer systems capabilities required of it by [the] Banca D’Italia since 2014.” The report was based on a statement issued by the office of RCBC Global Transaction Banking group head Manny Narciso.

Of course the closure—which was really no big deal, the bank said, because remittances are a low-margin business with high operating costs—had nothing at all to do with the ongoing scandal, despite the unfortunate timing of the news. Just a bit of organizational streamlining, is all. Nothing to see here, move along.

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