Philippines Securities and Exchange Commission (SEC) Chairwoman Teresita Herbosa said this week that her country has to expand its Anti-Money that is current Laundering (AMLA) to provide investigative authorities with extra resources and research capabilities.
Bangladesh central bank boss Atiur Rehman stepped down on Tuesday, after an $81 million cyber heist of his country’s money. Ironically, Rehman is seen here after winning a 2014 Peace that is GUSI Prize for his work in neuro-scientific economics.
Specifically, Herbosa says gambling enterprises require to fall beneath the AMLA umbrella of regulatory oversight.
‘ We have to bolster the legislation,’ Herbosa told reporters in Manila on Monday. ‘It’s a global effort to eradicate money laundering . . . We need to catch up with people doing that activity.’
Charged with supervising the country’s corporate sector, spending public, and its securities and investment market, Herbosa is giving an answer to 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 moved through two of this country’s casinos, according to PAGCOR, the Philippine’s gaming regulatory authority. One unnamed PAGCOR official noted that the influx of funds went to the Solaire Resort and Continuer la lecture de Philippines SEC Calls for Casinos to Fall Under Anti-Money Laundering Legislation Following New York Fed Cyber Heist