Manila — The policy-making Monetary Board of the Bangko Sentral ng Pilipinas has cancelled the Certificate of Registration of Philrem Services Corp., the remittance service provider facing lawsuits for alleged involvement in the laundering of about US $81 million stolen from Bangladesh Bank in February 2016.
The board also cancelled the certificate of registration as foreign exchange dealer, money changer, remittance agent of Werquick and Peso Remittance.
”The BSP will also be working closely with other relevant government agencies, such as the Anti-Money Laundering Council and the Department of Justice, in their investigation of possible criminal and administrative violations under the Anti-Money Laundering Act and its Implementing Rules and Regulations, of the aforementioned entities, including their Directors and Officers,” the central bank said.
Last April, in one of the Senate hearings on the said money laundering activity, BSP Deputy Governor Nestor Espenilla Jr. said there was a possibility that Philrem face sanctions vis-à-vis violations of central bank rules on remittance agents since it failed to implement the know-your-customer (KYC) rule, which is required from BSP-regulated financial institutions .
This after Philrem owner Salud Bautista admitted in one of the Senate hearings that the company did not use the KYC rule on junket operator Kim Wong, who received part of the stolen money, when Philrem remitted money to the businessman.
Instead, Philrem tapped the third party reliance rule hoping that the Jupiter, Makati branch of the Rizal Commercial Banking Corporation (RCBC), where the stolen money was transferred from the Federal Bank of New York ended, followed the KYC rule, she said.
Espenilla said that before a BSP-registered remittance company can use the third party reliance rule they first need to secure a sworn certification that says the bank has conducted the KYC and face-to-face identification, that the bank has the minimum information on the customer, and that the remittance company can secure identification documents from the bank without delay. (PNA / Joann Santiago)
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 […]
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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 […]
On Monday Justice Secretary Vitaliano Aguirre named Rey M. Raagas as officer-in-charge of the Bureau of Corrections (BuCor), replacing Benjamin Delos Santos who resigned from the position last week. Raagas is currently BuCor’s administrative division chief. Delos Santos file his irrevocable resignation last July 13 after Aguirre ordered the National […]
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We speculate on the fate of Ninio Hilario Fetalvo, Bicol’s man in Washington, USA. Will he stay longer, like maybe beyond August of 2017? Fetalvo earlier worked as Florida Communication Director for the Republican National Committee under Sean Spicer before joining him in the White House as Assistant Press Secretary. […]
LEGAZPI CITY, March 2 — Almost halfway through its construction phase, only then that a commercial building rising in the city center here is getting its building permit processed by the city engineering office. For months, works on the construction of structure attributed to as the Yashano Mall has been […]
Former President and incumbent Manila mayor Joseph Ejercito “Erap” Estrada on Monday ended the speculation of political observers on who among the national candidates for president and vice president will get his endorsement. At the Liwasang Bonifacio proclamation rally of his local party’s lineup attended by an estimated 20,000 supporters […]
When Camsur became a byword as an emerging tourist mecca, any claim to that effect needs tangible and statistical proof. It is not the tourists who come and repeatedly come who are dying and grandstanding to find the proof or will not stop until handed down the proof.
The call of Department of Environment and Natural Resources Secretary Gina Lopez’s to review all permits and operations of coal-fired power plants in the country gets a loud support from the environmental advocacy group Greenpeace Philippines. The organization’s energy campaigner Reuben Muni also challenged DENR to take the initiative further […]
After Justice Secretary Leila de Lima submitted her review on the case of the Morong 43, the legal team of Malacanang also reviewed de Lima’s review and forwarded recommendations to the President. Aquino already said twice that he would let the courts decide on the case of the health workers.
SULTAN KUDARAT, Maguindanao, May 9 — Police and military authorities here are hunting down about 20 men who barged inside the Maguindanaon Elementary School and forcibly took at least 10 Vote Counting Machines in Barangay Katuli, Sultan Kudarat town in Maguindanao. Senior Insp. Esmael Madin, the town police chief, said […]
There must be rich memories spun and created behind the Bicol Teachers College and Bicol High School that alumni of the defunct twin institutions in Calabanga town keep a semi-active reunion dates. This, despite the graduates are now octogenarians and many are in far off places or gone to their […]
When I remember my hometown, Calabanga, it is always summer. It is a small town at the foot of the overwhelming Isarog, which is lapped by the San Miguel bay. The town is a lovely place where the skies are bluer than I’ve ever seen them anywhere and the sea is as calm as a still night and overpowering when angry.
PNP, AFP says Abu Sayyaf Group did it The Philippine National Police (PNP) is now focusing on two suspects in the bombing incident in the Roxas Avenue night market in Davao City that killed 15 and injured more than 70. In a press conference Saturday night in Camp Catitipan in […]
Talk or reference of informal settlers are confined mostly in the country’s urban centers, most specifically in or around the Mega Manila area. But that phenomenon is not common in urban centers alone. It is a basic fact which prevails in small and big towns in the country. It is […]
In a typical move of politicians at safeguarding their turf and vested interest, some 500 local Bicol politicians dropped membership from their respective political parties and took their oath on Thursday morning in Legazpi city before House Speaker Pantaleon Alvarez as new members of Partido Demokratiko Pilipino-Lakas ng Bayan. PDP-Laban […]
Was the EDSA People Power’s main purpose only to topple the administration of strongman President Ferdinand Marcos, many considered dictatorial and oppressive? Thirty years after the bloodless uprising, the fight remains an unfinished business, according to senators on Tuesday. ”EDSA has restored democracy but still has unfinished business….. freedom from […]
Sunday, September 17, 1972. At a distance, yesterday, the Colgante bridge looked beautiful, with colorful buntings and lighted with different colored bulbs. As the day’s sun descended, the bridge’s silhuette on the Naga river provided a lovely backdrop for the still unfolding culmination of the Peñafrancia religious festivities.
For the fiscal year of 2007, the LGU of Libmanan was the first and only that surpassed the P100M earnings among the 35 municipalities, while capital town Pili had P87M. Rinconada’s Nabua made P73.2M and the third district town of Calabanga earned P72.6M.
When I remember my hometown, Calabanga, it is always summer. It is a small town at the foot of the overwhelming Isarog, which is lapped by the San Miguel bay. The town is a lovely place where the skies are bluer than I’ve ever seen them anywhere and the sea is as calm as a still night and overpowering when angry.
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.
According to the Department of Education and Culture-Bicol about 1.6 million students will troop back to the region’s public elementary and high schools in today’s opening of regular classes. Chief administrative officer Jose B. Bonto of DepEd regional office, said this total number of students expected to return to schools […]
Watch the Canonization of Pope John XXIII and Pope John Paul II. On the Second Easter Sunday Pope Francis presides over the Holy Mass for the Canonization of the Blessed John XXIII and John Paul II, St. Peter’s Square. Scheduled for Apr 27, 2014 Author Recent Posts Sr. Editorial Staff […]
PH holds kick-off ceremony on APEC 2015 hosting On Monday, the kick-off ceremony will be held in Makati City with President Benigno S. Aquino III leading the event. It will be hosted by the government’s partners at the Department of Trade and Industry which will be held at 5 p.m.The […]
MANILA, March 4 — In the continuing hostilities in conflict-torn areas in Mindanao, government forces suffered yet another set of fatalities. Three soldiers, two of them officers, were killed after the resupply column they were in were mined and ambushed by suspected Abu Sayyaf Group (ASG) bandits in Patikul town, […]
