Rizal Commercial Banking Corporation (in Makati City) Jupiter branch manager Maia Santos Deguito faces criminal complaint filed by PH government agency Anti-Money Laundering Council before the Department of Justice.
During the Senate hearing on the alleged money laundering case involving a Philippine universal bank Tuesday, OFW advocate Susan Ople disclosed that banks in more than 10 countries and territories have ended correspondent banking operations with Philippine-based banks and remittance companies.
These foreign banks, include among others, are those in New Zealand, Hong Kong, Australia, Canada, Singapore, Brunei, Ireland, Spain and Germany.
The harsh and calculated reaction is more linked to fear of violating their own anti-money laundering law given that the Philippines remains on the gray list of the Financial Action Task Force.
The Philippines was removed from the blacklist in 2005 but remains in the gray list.
In June 2012, Republic Act (RA) 10167 or the strengthening of the Anti-Money Laundering Law and RA No. 10168, which criminalizes terrorism financing as a stand-alone offense, were enacted to strengthen anti-money laundering rules. But casinos are not covered by the anti-money laundering law.
Ople said some foreign banks cut correspondent banking operations with Philippine-based financial institutions to the detriment of OFWs, who pay higher fees in sending remittances.
He cited that “recent developments here may heighten the risk of further termination of correspondent banking accounts if we are seen as having a weak anti-money laundering counter-terrorism financing regime.”
He was referring to the case involving the Jupiter, Makati branch of Yuchengco-led Rizal Commercial Banking Corporation (RCBC), where five accounts were said to have received laundered money amounting to about US$ 81 million that was stolen from the Bangladesh Bank (BB), the central bank of the People’s Republic of Bangladesh.
The money was reported to have been hacked from the US dollar account of BB with the Federal Reserve Bank of New York in February 2016 and remitted to four accounts that are with the RCBC Jupiter branch.
Anti-Money Laundering Council (AMLC) Executive Director Julia Abad, during the Senate hearing, said the US $81.31 million funds were sent to the accounts of one Michael Francisco Cruz, US $6.029 million; Jessie Christopher Lagrosas, US $30.28 million; Alfred Vergara, US $19.999 million; and one Enrico Vasquez, US $25.001 million.
The accounts were opened on May 15, 2015 and remained in-active until last month when funds were withdrawn and consolidated to the account of William So Go, which was opened only on February 1 this year.
Abad said the funds were again transferred and converted to Philippine peso through the remittance firm Philrem, which also has an account with RCBC Greenhills.
The converted foreign exchange were then transferred to the account of Solaire Resort and Casino, US $29 million; and Midas Hotel and Casino, US $21.245 million; and to Kim Khang Zhou, US $30.691 million.
Sharing this much watched ‘WHAT IS A WOMAN’ documentary of conservative YT channel Daily Wire. On June 1, 2023, the documentary movie starring Matt Walsh of ‘What is a Woman’ was posted online via Twitter. In the first few hours of publication, the movie hit the proverbial stumbling block of […]
Her story resembles that of a script lifted direct from a tele-novela. This video is another installment in our continuing coverage of ordinary people sharing their experience during their married life. The resource speaker on this video supports the passage of the divorce bill in the Philippine congress. The speaker […]
Did regret came too late? A girl who transitioned to becoming a boy during teenage year speaks of great regret for having done so. Charlie Evans “became” male for close to ten years before making a turn-around from a decision made. Evans detransitioned in 2018. But will it recoup the […]
This is only a passing question for residents living around the City of Naga and also of towns nearby, and maybe of Camarines Sur province, too. Have you visited the Jesse Robredo museum yet? If not, then come on, let’s join Vice-President Leni Robredo show us around. The VPOP is […]
Canadians react with disdain on government officials, which include PM Justin Trudeau and Environment Minister Catherine McKenna, due to garbage dumping in the Philippines. Watch how independent conservative YouTube channel shares reaction and more below: [At 1:40, notice the government official sitting right of President Duterte make face, reacting to […]
Sharing here the attendance of Vice President Leni Robredo during the 121st Independence Day rites this morning at Rizal Park in Manila. And below is the commemorative message of the vice president for the occasion: Sa araw na ito, bilang nagkakaisang lahi, ipinagdiriwang natin ang ika-isangdaan at dalawampu’t isang taon […]
A short clip derived from a PBS (US tv channel) documentary highlights a woman acquiring a “sense of peace” after aborting her two (twin) babies. The woman was shown getting clear instruction from the doctor on the dosage and timing of taking “medical” abortion pills. The doctor was so blatant […]
The most important and relevant documentary movie drops today. Will it be truth bites the plight of mass migration hurting Europe? We are referring to the much awaited “Borderless” movie by independent Canadian activist-journalist Lauren Southern and her team. After months enduring the rigors (and danger) of (clandestine) location filming, […]
Some world leaders, and even the mainstream media, didn’t get it. But at least, Pope Francis on Easter Sunday speaking after the special Easter ‘Urbi et Orbi’ message and blessing, expressed his “heartfelt closeness to the Christian community [of Sri Lanka] wounded as it was gathered in prayer, and to […]
Daring independent journalist Lauren Southern is on the hot trail of the illegal immigration happening now in most of Europe. On this her latest reportage the daring Canadian exposes the alleged human smugglers and traffickers operating in Greece as NGO’s like the Emergency Response Center International. ERCI is a self-described […]
This should be the first walking tour for inmotion channel, I mean, a walking exploration. So here I was at the churchyard of the main Catholic church in my hometown which is the Parish church of Our Lady of La Porteria. Welcome to inMotion. And many thanks and appreciate for […]
Yes, totally true. The epic fails in Ilocos Norte. One of which was the “cable cart” ride which amused the passengers at first. Then afterwards lost the interest for the operator obviously had difficulty maneuvering the cart up its destination and back. But hey, it was a good try. The […]
Culled from the online news portal itself, Rappler reports agents from the National Bureau of Investigation (NBI) arrested Rappler CEO and executive editor Maria Ressa early Wednesday evening, February 13. The arrest was done in connection with a cyber libel case filed by the justice department. NBI officers in civilian […]
This Philippine province of almost two million people, or 1.9 (1,952,544) million warm bodies according to the official census count of 2015 is the biggest in the Bicol region in terms of population and land area. While it is rich in natural resources and beautiful scenic places, majority of its […]
I am back, yet again, after a long hibernation of sorts. I fixed some personal issues, settled what should have been done before and still in the process of accepting and facing some other health circumstances that is part of life. And then I completely pushed aside into the backburner […]
After posting the article covering the much vaunted Pantao regional port located in Libon town of Albay province we dig a foot deeper and decided to go ahead with an update and rejoinder about the project. Envisioned to boost a “robust economic corridor in southern Luzon, specifically for Daet, Naga […]
Time magazine’s 2018 acknowledged person(s) of the year (POY) received mixed reaction from netizens. Before the end of year, the US-based news magazine picks a POY of their choice who has done the most to influence the events of the year. This 2018, it came out with not one, but […]
As many expected, former Philippine senator Bong Revilla on Friday was acquitted by the Sandiganbayan of the plunder case in relation to the misuse of P224 million pork barrel funds. Pork barrel funds were coated as Priority Development Assistance Fund (PDAF) of previous administrations. His co-accused, bussinesswoman Janet Lim Napoles […]
We get it. Bicolanos and travelers to and from the region will have to get used to flying and landing on four dated airports, one each in Legazpi, Pili (for Naga), Virac and Masbate. The one and only, but much vaunted, Bicol International Airport, or the Southern Luzon International Airport, […]
The domestic airport in Pili serving metropolitan Naga and the provinces of Camarines Sur and Camarines Norte will soon be capable of catering to evening flight take-off and landing operations. The Naga airport, which is operated by the Air transportation Office (ATO) of the Department of Transportation and Communications, has […]
To get a good grasp of the illegal immigrant crisis in the United States (America), and in Europe (European Union), we are sharing below two video coverage, one for each. These are different takes on the massive migrant caravan that began marching from Central America, mostly coming from Honduras, with […]
The town of Daraga in Albay province, has total assets of P1.029 billion making it to the top of the list among the richest municipal local government units (LGU) for 2017, besting 106 others in Bicol region, according to the Commission on Audit (COA). Daraga, aside from topping the list, […]
Ownership of the University of Nueva Caceres change hands. Kind of. For decades, the Hernandez family of Naga city and Libmanan town used to own and manage the first and largest university in Bicol. But not anymore as the education arm of the Ayala Corporation, the AC Education, Inc., (AEI) […]
Naga City, Bicol’s financial, business, educational and religious capital now has a total net worth of over P4.675 billion, making it the richest local government unit (LGU) in the region, according to the Commission on Audit (COA). The City of Ligao, in Albay province, followed far second, with a total […]
Why Fuentebella’s Partido Development Administration got the axe. The administration is cleaning up the mess of the past. Or, so it seems. Recently, Malacañang abolished a Bicol-based Government Owned or Controlled Corporation (GOCC) created during the administration of former president Fidel V. Ramos. The Partido Development Administration (PDA) was snapped […]
While I am not required to explain why I am using English as the medium or language of this channel, I am too happy to explain why. Also, I think it is time to share our reason. Hello friends, Thank you for dropping by and watching this post. At the […]
Today, I temporarily place under my drawer the primary concern of growing more subs. Because today we go Chinese. I mean, I will talk in passing about the Chinese Zodiac as very soon the Chinese New Year will come with a bang on Feb 16, 2018 and end on Feb […]
The Malacanang palace on Saturday made known an official denial it has got no hand in the subpoenas issued by the National Bureau of Investigation to online xocial news network publisher Rappler chief executive officer (CEO) Maria Ressa and two others over cybercrime raps, Presidential Spokesperson Harry Roque said on […]
President Rodrigo Duterte has designated Undersecretary Rosalina Bistoyong as Officer-In-Charge of the Department of Agrarian Reform. She will occupy the vacated post of Rafael Mariano whose nomination was rejected by the powerful joint congressional Commission on Appointments last September 6. Bistoyong is a career executive service professional in the government […]
The residence of Mayor Jed Patrick Mabilog of Iloilo city on Thursday afternoon was the subject of initial inspection from a team of the National Bureau of Investigation.. Witness to the arrival of the inspection team include Ariel Castañeda, the head of the Local Economic Enterprise Office (LEEO) of the […]
My English classes in Grade Six will be the first set of pupils under the K-12 curriculum moving up to Grade 7 come March this school year. At this point, even while it is too early, I try to foresee the probable challenges and impact on their learning curve due […]
President Rodrigo Duterte’s blogger-supporter and now amply rewarded as Assistant Secretary in the office of Presidential Communication Operations Office has courted, again, the ire of netizens, specifically Twitter users. This time, tweets criss cross the internet calling for the ouster or removal of the former sexy dancer from her Malacanang […]
Thanks to the long known advocacy of the Greeenpeace group, the 4th Annual sky lantern flying activity in Legazpi city was eventually canceled by its organizers. The organizers of the 4th Annual sky lantern flying activity have decided today to cancel the event after it was met with strong opposition […]
Bangko Sentral ng Pilipinas wants you to know that it would be very difficult to produce a counterfeit of the new generation Philippine bank notes now in circulation. With the very stringent process, the bank note paper used made up of cotton with Philippine abaca, and all other security features […]
In its disclosure with the Philippine Stock Exchange (PSE) Monday, the Banco de Oro Unibank Inc. (BDO) registered a P13.3-billion net income in the first half of 2017, much higher than the PHP11.7 billion in the same period in 2016. The leading unibank of the country traced the improvement of […]
A new grouping of Bicol provinces into a local tourism industry development alliance is finally taking shape. The new group, which will be referred to as “Triple C,” include the provinces of Camarines Sur, Camarines Norte and Catanduanes. It will comprise a tourism development area. The two sub-tourism areas under […]
Residents of Iriga city will have time to celebrate it’s founding anniversary. President Benigno S. Aquino III has declared Sept 3 a special non-working day in the city in celebration of its 45th Founding Anniversary. The Chief Executive issued the declaration to give the people of Iriga the full opportunity […]
Three town mayors of Lanao del Sur tagged as allegedly involved in big time drug operation are subject of manhunt by police authorities of the Autonomous Region in Muslim Mindanao. And yet, ARMM police director Chief Supt. Agripino Javier is still mum on the name of the local government executives […]
MANILA, Feb. 1 — While the fallen 44 Philippine National Police – Special Action Force commandos will never get their lives back, the Aquino administration is drumming up financial and livelihood packages for the beneficiaries of those left behind as palliative measure but unwilling to condemn the Moro Islamic Liberation […]
LEGAZPI CITY, April 4 -– Bicol tourism made a noticeable upswing trend in 2013 as some 3.2 million visitors arrived in the past year with an estimated P1.9 billion revenue earned on tourist-related activities. Maria Ong-Ravanilla, regional tourism director, said of the 3.2 million tourist arrivals, 2.5 million were domestic […]
The Senate approved on third and final reading on Monday a bill which seeks to mandate the installation of a speed limiter in all public utility buses (PUBs). Voting 19-0, the senators passed Senate Bill No. 2999 which is aimed at reducing road accidents by requiring buses to install speed […]
At the resumption of the Senate Blue Ribbon Committee hearing on the alleged US $81 million money laundering, businessman Kim Wong presented a sealed envelope containing the names of the two foreigners he claimed were connected in the heist. Kim Wong on Tuesday flatly denied involvement in bringing in the […]
Three huge National Irrigation Administration projects worth P336,845,505.73 is underway for Ilocos Norte, Bukidnon and Davao Del Sur. The amount is earmarked to rehabilitate, improve irrigation systems and fund the construction of irrigators’ association support facilities. The finalized project contracts under the National Irrigation Sector Rehabilitation and Improvement Project (NISRIP) […]
It’s not yet over, ’til its over. So, ALECO wants to oust APEC thru court action. Now, member-consumers of the Albay Electric Cooperative have asked the court to stop the San Miguel Corp.’s Global Power Holdings Corp. (SMC Global) from exercising control and jurisdiction over the cooperative. In a 68-page […]
Indeed, with the alarming upheaval in the belly of beguiling Mayon Volcano, another one is letting out a steam of its own. It would seem to confirm that Albay is home to two volcanoes that both pose threat to health and normal economic life of the province. We are referring […]
One school day of 1934, the residents of barrio Vito in the town of Siruma, installed on a pedestal a bust of a national hero at the school grounds of Vito Elementary School. The event was attended by most of the locals including the teachers and pupils of the school. […]
Netizens accuse Liberal Party illegaly using government vehicle, resources, personnel in campaign for Daang Matuwid team Malacanang on Friday said the Philippine Commission on Elections should investigate complaints that the Aquino administarion-supported Liberal Party was using government vehicles in the campaign sorties of Manuel Roxas II. Persistent and sensitive users […]
Zamboanga City, July 5 — The decapitated remains of two of the remaining five abducted Vienamese sailors stunned residents of a Basilan town early this morning. The bodies were found about 5:40 in the morning first by a resident of a barangay of Sumisip town. The horrifying discovery was disclosed […]
President Aquino leaves for US-ASEAN summit in California. President Benigno S. Aquino III has vowed to further solidify the Philippines’ stand for the peace process during his attendance in the two-day ASEAN-US Leaders’ Summit in the United States this week. The Summit, to be held in Sunnylands, California, aims to […]
On the day and time we were supposed to depart for the twin barangays of Binanuaanan in upland Calabanga, rain poured in abundance it was more than enough to give us a good bath. We had to cancel the trip. The next day, the weather was a complete opposite. We […]
The Philippine peso finished its weakest under the administration of President Rodrigo Duterte on Monday at P48.25 much noticeably lower than the P48.33 in September 15, 2009 but still far from the P47.16 of Nov. 10, 2015. Trying to explain the cause or identify the source as possible culprit, a […]
How can the government and the Armed Forces of the Philippines claim that it respects human rights when human rights defenders themselves are being the target of attack? How can there be claims of “change” when the lives of the majority remain the same, and even getting worse, and those who defend the rights of the poor and the oppressed are still being treated as “enemies of the state”?
Yesterday, during the pre-fiesta parade celebration, many of these institutions fielded representatives showcasing the showmanship, talent and faces of their students. Consider how long the parade went on with the long list of participants. They presented exhibition and action fronting the makeshift review grandstand, right into that commercial area, everybody calls the “Parada”.
Canadians react with disdain on government officials, which include PM Justin Trudeau and Environment Minister Catherine McKenna, due to garbage dumping in the Philippines. Watch how independent conservative YouTube channel shares reaction and more below: [At 1:40, notice the government official sitting right of President Duterte make face, reacting to […]
During the initial days of the new administration, many were shocked (sic) on how voluminous the past government imported rice from other Asian countries. The issue was heightened when some National Food Authority warehouses were found with rotting stockpiles of the commodity.
Then I heard about the skyway bridges that will span the river, connecting the towns of Libmanan and Canaman. The structure will be built much farther inside and farther from Balongay. The loss of Calabanga and Cabusao became the gain of Libmanan and Canaman. Lucky folks of these towns.
After the May 10, 2010 general elections, the local government of Siruma and its town folks received its first ever and most distinguished visitor of the land, and a surprise yet.
Fifty eight years last month, in November 18, 1952, the former mayor of Calabanga town unveiled a donation of a (cement) bench located at the plaza. Now with the onslaught of change and modest modernization, the bench still occupies its original location. But it has served its purpose and the passage of time clearly made its mark.
