Philippines Securities and Exchange Commission (SEC) Chairwoman Teresita Herbosa said this week that her country has to expand its current Anti-Money Laundering Act (AMLA) to provide investigative authorities with additional resources and research abilities.
Bangladesh central bank boss Atiur Rehman stepped down on Tuesday, following an $81 million cyber heist of his country’s cash. Ironically, Rehman is seen here after winning a 2014 GUSI Peace Prize International for his work in neuro-scientific economics.
Specifically, Herbosa says gambling enterprises need to fall underneath the AMLA umbrella of regulatory oversight.
‘ We must strengthen the legislation,’ Herbosa told reporters in Manila on Monday. ‘It’s an effort that is global eradicate money laundering . . . We need certainly to catch up with individuals doing that task.’
Charged with supervising the nation’s corporate sector, investing public, and its particular securities and investment market, Herbosa is answering the Philippines’ obvious involvement in an effective $81 million cyber heist that spread from the usa to Southeast Asia.
Half Moved Through Casinos
A bit more than half of the $81 million stolen in the cyber heist relocated through two associated with the country’s casinos, according to PAGCOR, the Philippine’s gaming regulatory authority. One unnamed PAGCOR official noted that th Continue reading