May 10, 2016
The Philippines started the process to strengthen its anti-money laundering and bank secrecy laws on Tuesday, aiming to plug loopholes that allowed $81 million stolen in one of the world’s biggest cyber heists to pass through Manila banks and casinos. The Department of Finance said it was working with the country’s anti-money laundering council and central bank to amend the list of entities covered by its anti-money laundering law to include casinos. A draft bill was submitted to Congress, it said.
Unidentified hackers infiltrated the computers at the Bangladesh central bank in early February and tried to transfer $951 million from its settlement account at the Federal Reserve Bank of New York.