$81M Hacking of Bangladesh Bank, US Federal Reserve in New York to RCBC bank in PH and Sri Lanka bank to Solaire Casino.

[Lew_Alcindor]

The look of her face is a sign of genuine worry.

The question now is why she is worried? Worried that why she has gotten herself into this mess or why is everyone is suddenly ganging up on her.

I'd be worried too if I am her.
Involved siya jan (pero hindi ako sure kung by choice or coerced) pero may instructions yan from the higher banking officials. Impossible ata na branch manager lang ang mag-aaprove ng ganung kalaking halaga na gagalawin.

[leonleon]

May tsismis ba kung sugarol sa casino itong BM Dequito na ito?

Baka kasi baon sa utang sa casino yan kaya kumapit sa patalim at nagpagamit sa mga sindikato sa casino para labhan ang pinaplano nilang nakawing pera sa Bangladesh Central Bank?

Just speculating.

[Walter]

Unlikely, banks usually have someone inside casinos to pinpoint the high stakes gamblers.

[car_fan]

I need to watch the movie again. All I can remember is Halle Berry's outfit!

Sent from my SM-N910C using Tapatalk

And the lack of it in one of the scenes 😁

[Monseratto]

I remember Deguito was promising to tell all when she was interviewed by the media. It turns out to be a dud even after she was allowed to speak at an executive session, wala naman pinasabog. I guess same can be said with Torres. At least she won't be able to claim silence since Torres has no pending case unlike Deguito. Funny how many in social media are turning this to a David vs Goliath.

Ex-assistant manager clears Deguito, cries harassment from RCBC execs
By: Yuji Vincent Gonzales
*YGonzalesINQ
INQUIRER.net
06:31 PM March 18th, 2016

The resigned assistant manager of the Rizal Commercial Banking Corp. (RCBC) branch at the center of the $81-million money laundering scheme on Friday came to the defense of manager Maia Santos-Deguito and cried harassment from RCBC executives.

In an interview over radio dzBB, Angela Torres of the RCBC branch on Jupiter Street in Makati City belied the claims of former customer service head Romualdo Agarrado who testified in the Senate blue ribbon committee probe on the alleged money laundering scheme on Thursday.

Agarrado said during the hearing that he personally saw the P20-million cash, believed to be part of the $81 million stolen funds from the Bank of Bangladesh, placed in a paper bag and being loaded to Deguito’s car last Feb. 5 when the inward remittance in the name of businessman William Go, one of the businessmen linked in the laundering, came in.

Torres said it was not true that the P20-million cash was loaded to Deguito’s vehicle, adding that it was not contained in a paper bag but in a box smaller than a “balikbayan” box.

“Halos lahat ng inihayag ni Mr. Agarrado sa Senate hearing kahapon ay pawang mga kasinungalingan… Hindi naka-paper bag ang pera, naka-box at isinakay sa kotseng Lexus ni William Go. Hindi totoo ang sinasabi ni Mr. Agarrado na isinakay ang pera sa sasakyan ni Ms. Maia,” Torres said.

(Almost all of Mr. Agarrado’s statements in the Senate hearing yesterday were lies. The cash was not put in a paper bag, instead it was placed in a box and was loaded to William Go’s Lexus. Agarrado was not telling the truth when he said that the money was loaded to Ms. Maia’s car.)

“Hindi rin po totoo na nagla-log ang guard namin ng mga dumadating na kliyente kaya nagulat din po ako sa binanggit ni Mr. Agarrado… Napakadami niya pong dinamay na tao na dapat wala sa storya hindi rin po namin naiintindihan,” she said.

(It is also not true that our guard was logging the names of the clients who enter [our branch] that’s why I was suprised by what he said. He has involved many people who are not supposed to be in the story, that’s why we don’t understand it.)

Agarrado said he saw Jovy Morales, the bank’s messenger, load the money to Deguito’s vehicle with the help of Torres.

Asked about Go’s dollar account, Torres said it was her who called the businessman and confirmed that he would be opening a dollar account, adding that the client personally signed the withdrawal slip of P20 million before her.

Go’s camp earlier claimed that his signature was forged by Deguito and that the latter admitted that she opened an unathorized account under the businessman’s name in a meeting last Feb. 23 in a Taguig restaurant.

“Sa harap ko pinirmahan ni William Go ang withdrawal slip ng 20 million. Ako ang tumawag at nag confirm kay William Go na magbubukas siya ng dollar account,” Torres said. “Hindi po si Ms. Maia ang nag-maniobra. Inopen lang po namin ‘yung dollar account ni William Go at ginawa ‘yung ini-instruct n’ya.”

(William Go signed the withdrawal slip of P20 million before me. I was the one who called him and confirmed to him that he would open a dollar account. Ms. Maia did not fabricate it. We just opened William Go’s dollar account as he instructed.)

Torres added that the RCBC head office confirmed that the remittance that came in was supposedly valid. “Kampante kami na okay ‘tong remittance na ‘to,” she recalled.

(We were confident that this remittance was valid.)

Torres said she does not understand why the RCBC management was pinning them down, adding that she has been receiving threats from the bank’s executives.

“Alam ko po ‘yung transaction kasi sa branch po nangyari lahat. Yung sinasabi ni Mr. Agarrado na nilagay sa kotse… masyado na pong OA [over-acting] si RCBC para gawin sa amin ‘to. Hindi ko po alam kung bakit kailangang gawin ni RCBC ‘to sa amin,” she said.

(I know the transaction because it transpired in our branch. What Mr. Agarrado said that the cash was loaded to Deguito’s car [was not true]… The RCBC was over-acting to do this to us. I don’t know why RCBC is doing this to us.)

Torres also aired a message to Macel Fernandez, the lawyer conducting an investigation on behalf of RCBC: “’Di ko po alam kung bakit galit na galit siya sakin dahil tinatakot n’ya po ako na ‘baka makulong ka.’ May nakukulong po ba sa pagsasabi ng totoo? Pati mga head ng RCBC tinatakot po ako.”

(I don’t know why she is very angry at me, she is threatening me that I might be sent to jail. Has anyone been jailed because of telling the truth? The RCBC heads are threatening me as well.)

Denying that she had personal gains in the transactions, Torres said she was willing to testify before the Senate to speak of nothing but the truth.

“Basta ako kung ipatawag po ako ng Senado sasabihin ko lang po kung ano po ‘yung totoo, ‘yung nalalaman ko,” she said. “Ginawa lang po namin kung ano ang trabaho ng branch. Sana po malaman yun ng sambayanang Pilipino.”

(If the Senate will summon me, I will only tell the truth and what I know. We are only performing the work of the branch. I hope our entire countrymen will know that.)

The Senate will resume its probe on March 29. RAM

[Mguy]

May tsismis ba kung sugarol sa casino itong BM Dequito na ito?

Baka kasi baon sa utang sa casino yan kaya kumapit sa patalim at nagpagamit sa mga sindikato sa casino para labhan ang pinaplano nilang nakawing pera sa Bangladesh Central Bank?

Just speculating.

Highly unlikely. The banking sector is very strict when it comes to gambling. If they even find any whiff of evidence that you played inside a casino, they wont hire you at all or would put you in a watch list.

[JJ All Day]

Just to point out something..

The Driver's Licenses (DL) used by the alleged fictitious persons who opened accounts in RCBC turned out to be fake.

DL verification through TxtLTO, a mobile phone facility of LTO to verify (among others) the validity of DL, would have detected the fake IDs (before the accounts were allowed to be opened). This is only P2.50/text, and LTO reply would be received in a matter of seconds only.

In opening an account, the AML rules and regulations set three (3) basic requirements (particularly for High Risk customer):

(1) Obtain minimum information
(2) Conduct validation procedure (any or all)
(3) Seek approval

For requirement #2, most banks (if not all) resort to sending of 'TY Letter' as a mean of conducting validation procedure.

[Monseratto]

Biz Buzz: Oh, brother! | Inquirer Business

Biz Buzz: Oh, brother!
By: the staff
*inquirerdotnet
Philippine Daily Inquirer
03:30 AM March 21st, 2016

THE FALLOUT from the $81-million money laundering scandal has reached the realm of journalists.

Now, it’s no longer just Rizal Commercial Banking Corp. branch manager Maia Santos-Deguito who has been suspended. The career of another veteran television-radio personality has been put on ice as well.

Biz Buzz learned that this TV-radio guy—known for his hard-hitting on-air commentaries—was slapped a 30-day suspension by the broadcast network he works for last week in relation to his program where he tackled the issue of RCBC’s involvement in the biggest money laundering scandal ever to hit Philippine shores.

Now, to be fair, this journalist has made a name for himself defending the downtrodden and taking up the cudgels on behalf of “the little people” going up against big-name politicians, businessmen and the like.

And so it was when TV-radio guy forcefully took the side of Maia Santos-Deguito in his program last week, spewing mouthful after mouthful of impossible-to-print words against RCBC and its president and CEO Lorenzo Tan.

TV-radio guy may have been just a little too passionate in defending the seemingly oppressed Deguito as he went on to call Tan some impossible-to-print names again, and even at one point, urging RCBC’s clients to take their money elsewhere.

Well, TV-radio guy has been known to go overboard at times—just like his equally hard-hitting brothers who are also journalists—but, in the heat of the moment, he probably forgot that there are the usual “ties that bind” that link the broadcast network he works for with RCBC.

You see, RCBC chair Helen Yuchengco-Dee also sits in the board of a big company that owns and controls the broadcast network that employs TV-radio guy. Whoops.

And so, after a flurry of phone calls among the broadcast network’s top management, TV-radio guy was suspended for a month. It’s a shame because, we understand, he was supposed to serve as one of the panelists for yesterday’s Comelec debate on the presidential candidates.

The more worrying thing for TV-radio guy (and his fans among the viewing and listening public, we suppose) is that his contract with the network is nearing its conclusion and will be up for renewal soon. Uh-oh. Daxim L. Lucas

[Mask Rider Blac]

Itago na lang natin sa pangalang Erwin Tulfo 😂

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[dr. d]

i still find it confusing... it's as if someones is/are giving out only limited information...

[Ry_Tower]

i still find it confusing... it's as if someones is/are giving out only limited information...

RCBC HQ is covering its track. They don't want investors and clients to think na mahina ang financial security nila.

[JJ All Day]

RCBC HQ is covering its track. They don't want investors and clients to think na mahina ang financial security nila.

I am not for RCBC. But can we identify in details kung bakit 'mahina and financial security nila'? Easy to say (apparently ganon) pero ang nangyari sa RCBC, pwede din kaya lumusot sa ibang banks?

Recipient lang tayo dito ng funds. We cannot prevent the funds from entering our financial system, sabi nga straight through process ang SWIFT. Meaning, there is presumption of regularity ng pumasok na ito sa atin dahil nga dumaan na sya dapat sa scrutiny ng sending and correspondent banks.

[JJ All Day]

What specific provisions in the Philippines' Anti-Money Laundering Acts (AMLA), as amended, and its Implementing Rules and Regulations (IRR), the BSP's Circular no. 706 on Money Laundering Rules and Regularions and the RCBC's Money Laundering and Terrorist Financing Prevention (MLPP) were violated?

[Ry_Tower]

I am not for RCBC. But can we identify in details kung bakit 'mahina and financial security nila'? Easy to say (apparently ganon) pero ang nangyari sa RCBC, pwede din kaya lumusot sa ibang banks?

Recipient lang tayo dito ng funds. We cannot prevent the funds from entering our financial system, sabi nga straight through process ang SWIFT. Meaning, there is presumption of regularity ng pumasok na ito sa atin dahil nga dumaan na sya dapat sa scrutiny ng sending and correspondent banks.

As vinj pointed out before, may BSP rulings and AMLC process in place para ma-flag down high value transactions. Sa laki nang amount niyan sigurado red flag yan up to top Mngt level nang RCBC. Pero naging leninet sila na magawa ni BM Dequito yung mga transactions na ito without top mngt being able to stop her. Obvious na may basbas nang top mngt yan. I've talked to 2 BM (RCBC pa at former Chinabank na ngayon nasa Rob bank na) pareho sinasabi nila na hindi magagwa ni BM Dequito yan unless nga pinabayaan coming from HQ. So parang nagbulagbulagan lang top mngt pala. Highly unlikely is SOP is being followed religiously.

[JJ All Day]

If wala, then dapat siguro yung framework at implementing rules mismo ng batas at ng regulasyon ang dapat baguhin. Am thinking, teka muna, ano ba dapat ang ginawa? Pano ba dapat na prevent ito?

Can we really stop the funds from being transacted? On what basis?

[JJ All Day]

As vinj pointed out before, may BSP rulings and AMLC process in place para ma-flag down high value transactions. Sa laki nang amount niyan sigurado red flag yan up to top Mngt level nang RCBC. Pero naging leninet sila na magawa ni BM Dequito yung mga transactions na ito without top mngt being able to stop her. Obvious na may basbas nang top mngt yan. I've talked to 2 BM (RCBC pa at former Chinabank na ngayon nasa Rob bank na) pareho sinasabi nila na hindi magagwa ni BM Dequito yan unless nga pinabayaan coming from HQ. So parang nagbulagbulagan lang top mngt pala. Highly unlikely is SOP is being followed religiously.

For universal bank like RCBC, i agree that there is this thing called AML Electronic System to flag down transactions deeemed suspicious. Pero tulad nga ng pinaliwangag nung head ng legal nila, they can only step on the break.. and conduct further verification, which they did. Unfortunately, they did not find sufficient basis or enough reasons to prevent the funds from being transacted then.

[JJ All Day]

There is no question na na-flag down yan ng AML Department ng RCBC, dapat lang ang laki nyan noh, Hehehe! And I also belive that the AML Department of the RCBC did not act on its own, but instead elevated the matter up to their Top Management. But then again, for what basis dapat i-prevent ng Top Management ng RCBC and transactions?

Uhm, ganito na lang siguro, may alam or wala ang Top Management ng RCBC, di nila mapreprevent ang transaction. Napabilis lang siguro and napadali, kung may alam nga sila (but this is very difficult to establish; hindi basta feel ko lang na gayan nga yan). I'm giving the Top Management of the RCBC the benefit of the doubt.

But unless may solid proof linking them to this alleged money laundering activity, mahina pa din ang case (kung meron man) against them.

[JJ All Day]

Here it is:

§ X807.2. Electronic Monitoring Systems for Money Laundering - UBs and KBs are required to adopt an electronic money laundering transaction monitoring system which at the minimum shall detect and raise to the bank’s attention, transactions and / or accounts that qualify either as CTs or Sts as herein defined.
The system must have at least the following automated functionalities:
1. Covered and suspicious transaction monitoring - performs statistical analysis, profiling and able to detect unusual patterns of account activity;
2. Watch list monitoring - checks transfer parties (originator, beneficiary, and narrative fields) and the existing customer database for any listed undesirable individual or corporation;
3. Investigation - checks for given names throughout the history of payment stored in the system;
4. Can generate all the CTRs of the covered institutions accurately and completely with all the mandatory field properly filled up;
5. Must provide a complete audit trail;
6. Capable of aggregating activities of a customer with multiple accounts on a consolidated basis for monitoring and reporting purposes; and
7. Has the capability to record all STs and support the investigation of alerts generated by the system and brought to the attention of Senior Management whether or not a report was filed with the AMLC.

Nothing in this provisions require that the unusual transaction shall be prevented. Instead, it should be reported.

[valskie01]

There is no question na na-flag down yan ng AML Department ng RCBC, dapat lang ang laki nyan noh, Hehehe! And I also belive that the AML Department of the RCBC did not act on its own, but instead elevated the matter up to their Top Management. But then again, for what basis dapat i-prevent ng Top Management ng RCBC and transactions?

Uhm, ganito na lang siguro, may alam or wala ang Top Management ng RCBC, di nila mapreprevent ang transaction. Napabilis lang siguro and napadali, kung may alam nga sila (but this is very difficult to establish; hindi basta feel ko lang na gayan nga yan). I'm giving the Top Management of the RCBC the benefit of the doubt.

But unless may solid proof linking them to this alleged money laundering activity, mahina pa din ang case (kung meron man) against them.

Alam ng Head ofc yan. The treasury or asset and liability group/ department of the bank ang nag momonitor lahat ng inflows and outflows ng bank both onshore and offshore.

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[br733]

interesting read for those interested....

the author is pointing out where to look in rcbc's books to determine if there is, and to what extent, complicity ....

The Great Bangladesh Central Bank Heist | The Society of Honor by Joe America