{"id":259040,"date":"2020-06-23T22:39:43","date_gmt":"2020-06-24T02:39:43","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=259040"},"modified":"2020-06-23T22:39:43","modified_gmt":"2020-06-24T02:39:43","slug":"ph-effectively-implementing-anti-money-laundering-law-palace","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/06\/23\/ph-effectively-implementing-anti-money-laundering-law-palace\/","title":{"rendered":"PH effectively implementing anti-money laundering law: Palace"},"content":{"rendered":"

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Presidential Spokesperson Harry Roque gave the guarantee after the Bangko Sentral ng Pilipinas (BSP) said Sunday that the USD2.1 billion missing from German payment firm Wirecard AG did not enter the Philippines\u2019 financial system. (PCOO file photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 The government is ensuring the effective implementation of Republic Act 9160 or the Anti-Money Laundering Act (AMLA), Malaca\u00f1ang said on Tuesday, after the two largest banks in the country have been dragged into the controversial Wirecard scandal.<\/p>\n

Presidential Spokesperson Harry Roque gave the guarantee after the Bangko Sentral ng Pilipinas (BSP) said Sunday that the USD2.1 billion missing from German payment firm Wirecard AG did not enter the Philippines\u2019 financial system.<\/p>\n

\u201cKaya nga po hindi makakapasok iyan ay dahil tayo naman po ay talagang nagpapatupad po ng ating<\/em>\u00a0Anti-Money Laundering legislation (That will not enter our country because we are really implementing our Anti-Money Laundering legislation),\u201d Roque said in a virtual press briefing aired on state-run PTV-4.<\/p>\n

Wirecard AG\u2019s shares plummeted last week after it was reported that around USD2.1 billion of its funds had gone missing.<\/p>\n

According to reports, Wirecard\u2019s external auditors at Ernst and Young found the missing funds were funneled into \u201ctwo Asian banks\u201d which were later identified as BDO Unibank and the Bank of the Philippine Islands (BPI).<\/p>\n

BDO and BPI, however, both denied involvement with Wirecard woes, and stressed that bank documents pertaining to the presence of the missing money were \u201cspurious.\u201d<\/p>\n

Roque backed the BSP and the two local banks\u2019 statements.<\/p>\n

\u201cNilinaw po ng<\/em>\u00a0Bangko Sentral\u00a0at nung dalawang bangkong<\/em>\u00a0involved — BDO at BPI —\u00a0na wala pong katotohanan \u2018yun<\/em>\u00a0(The Bangko Sentral and the two banks involved have already clarified that there is no truth to that),\u201d he said.<\/p>\n

Roque also emphasized that the Philippines is known for having an \u201ceffective\u201d AMLA.<\/p>\n

\u201cHindi na po tayo<\/em>\u00a0tagged\u00a0ng i<\/em>nternational community as one of the areas\u00a0na mahina magpatupad ng<\/em>\u00a0anti-money laundering regulations (We are no longer tagged by the international community as one of the areas with weak anti-money laundering regulations),\u201d he said.<\/p>\n

RA 9160 mandates the state to protect and preserve the integrity and confidentiality of bank accounts and to ensure that the Philippines will not be used as a money laundering site for the proceeds of any unlawful activity.<\/p>\n","protected":false},"excerpt":{"rendered":"

  MANILA\u00a0\u2013 The government is ensuring the effective implementation of Republic Act 9160 or the Anti-Money Laundering Act (AMLA), Malaca\u00f1ang …<\/p>\n","protected":false},"author":44,"featured_media":253430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-259040","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-ruth-abbey-gita-carlos","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/259040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=259040"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/259040\/revisions"}],"predecessor-version":[{"id":259042,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/259040\/revisions\/259042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/253430"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=259040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=259040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=259040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}