57 people, entities included in Wirecard ‘all sources’ probe –AMLC

The Anti-Money Laundering Council (AMLC) said at least 57 people and entities are covered in its ongoing investigation into German payments firm Wirecard's alleged missing $2.1 billion funds, which dragged two of the country’s biggest banks into the issue.

In a text message, AMLC Executive Director Mel Georgie Racela said that the 57 people covered in their probe include lawyer Mark Tolentino and two former junior officers of BDO Unibank and Bank of the Philippine Islands.

Tolentino was allegedly tagged as the “trustee” of Wirecard’s supposedly missing cash. He later claimed that he was framed and that his identity was stolen by “foreigners” who came into his office asking how they can do business in the Philippines.

On the other hand, BDO said it has fired the rogue employee who allegedly fabricated a bank certificate, while BPI suspended an employee for supposed falsification of documents.

Racela said AMLC is adopting an “all sources approach” in its investigation.

“This means we gather information from open sources such as news articles, press statements, social media articles, and information shared by law enforcers and supervising authorities both domestic and abroad,” he explained.

“So whatever news articles any person can read are part of our source of information. This is regardless of their base.”

BDO and BPI have denied involvement with Wirecard, both saying they have determined that documents claiming Wirecard was a client of theirs were false.

The scandal-hit German payments provider, later on, said that the missing money it booked in its accounts “likely never existed.”

Bangko Sentral ng Pilipinas Governor Benjamin Diokno earlier said the missing $2.1 billion did not enter the Philippine financial system.

While the funds did not enter the Philippine financial System, Racela emphasized that the AMLC did “not want to leave any stone unturned.”

The AMLC chief admitted that complex financial investigations such as the Wirecard case takes a while to complete.

“After we conclude our financial investigation we will exchange notes with NBI (National Bureau of Investigation). Then gather evidence for any case we are able to establish,” Racela said.

“It is only then can we know our timeline. Financial investigations are not like your ordinary crimes. Each person or entity of interest has their own complex financial transactions that we need to carefully analyze and link to others’ financial transactions,” he said. — DVM, GMA News