Bangladesh Bank heist: WB for including casinos in Philippines dirty money law
The Philippines must make sure casinos are covered by anti-money laundering legislation, the World Bank said today, joining calls for the government to better regulate its gambling industry after stolen millions from Bangladesh found their way to Manila.
A Philippine panel is trying to fathom how US$81 million hacked in February from the New York Federal Reserve account of Bangladesh's central bank wound up with two casinos and a junket operator in the Philippines in one of the biggest cyber heists in history.
The government has since recovered part of the stolen money.
"Reforms should be made, for instance, in making sure that casinos are included (in the anti-money laundering law)," World Bank lead economist Rogier van den Brink told reporters in Manila. "...Loopholes mus...
