BSP chief Diokno says none of Wirecard's missing $2.1 billion entered local financial system

The Bangko Sentral ng Pilipinas said on Sunday that none of the missing $2.1 billion of scandal-hit German firm Wirecard had entered the local financial system.

In a statement, BSP Governor Benjamin Diokno said BDO Unibank and Bank of the Philippine Islands (BPI), the Southeast Asian country's biggest lenders, suffered no losses, despite having been named in connection with the missing funds.

"None of the missing $2.1 billion of German firm Wirecard entered the Philippine financial system," he said in a mobile message to reporters.

"The international financial scandal used the names of two of the country's biggest banks -- BDO and BPI -- in an attempt to cover the perpetrators attack," he elaborated.

He was referring to BDO Uninbank Inc., the largest Philippine bank in terms of assets worth P3.069 trillion as of end-2019, and BPI with P1.912 trillion.  Both BDO and BPI on Friday denied involvement with Wirecard.

“Wirecard is not a client of the bank. The document claiming the existence of a Wirecard account with BDO is a falsified document and carries forged signatures of bank officers,” the Sy-led bank said in a statement sent through text message.

BPI, in a separate statement, said Wirecard’s “external auditor presented to us a document that claimed that they are a client.”

“We have determined that the document is spurious. We continue to investigate this matter,” the Ayala-led bank said.

The scandal-hit Wirecard, whose CEO resigned on Friday, is scrambling to reassure investors after its search for the missing cash hit a dead end in the Philippines.

"The initial report is that no money entered the Philippines and that there is no loss to bank banks," Diokno said Sunday, noting the strong position of the Philippine banking industry.  —with a report from Jon Viktor Cabuenas and Reuters/KG/LBG, GMA News