NO FURTHER PROBE FOR BDO, BPI

AMLC builds cases vs suspects involved in Wirecard mess

The Anti-Money Laundering Council (AMLC) revealed on Friday that it was building cases against local individuals involved in German payments firm Wirecard's supposed missing $2.1 billion funds, which dragged two of the country’s biggest banks into the controversy.

“We submitted and shared our report to the National Bureau of Investigation (NBI) and we are now at the level of coordination in building up a case against individuals, domestic violators of Anti-Money Laundering Act,” AMLC Executive Director Mel Georgie Racela said in a virtual press briefing.

“After we coordinate, we will now build up the case and file the necessary case. We are at that level now,” added Racela.

The AMLC had also completed its investigation on two bank officers who allegedly forged the documents used in the scandal.

BDO Unibank and Bank of the Philippine Islands earlier said they had fired the rogue employees who allegedly fabricated bank certificates, indicating that the missing funds of Wirecard were deposited into the banks.

Both lenders had also denied involvement with Wirecard, saying they have determined that documents claiming Wirecard was a client of theirs were false.

“We are already done with our report,” Racela said, noting that at least 57 people and entities are covered in its investigation.

The AMLC chief said earlier that included in the 57 persons of interest are 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.

No further probe on BDO, BPI

Meanwhile, lending giants BDO and BPI had been cleared as AMLC had confirmed that the supposed missing $2.1 billion did not enter their system.

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

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

“We already confirmed that it did not enter their bank accounts. So we have no reason to investigate the banks itself,” Racela explained. “There may be lapses in internal controls but that is another point of view.”

As for foreign individuals, Racela said the AMLC could not recommend anti-money laundering cases against them “without a predicate offense.”

Nevertheless, the AMLC chief said the anti-dirty money body shared its findings with German authorities.

“It is now up to them to investigate their citizens or companies,” he said.

The former chief executive of Wirecard, Markus Braun, had been arrested on suspicion of market manipulation in Germany.  — DVM, GMA News