MANILA, Philippines - The Bangladesh government has not yet identified – much less charged – any of the hackers or the group behind the loss of its $81-million deposit in the Federal Reserve Bank of New York, Ambassador John Gomes told a Senate panel yesterday.
“We have indications from the Federal Bureau of Investigation (FBI), we have certain indications who the hackers are. As I have said, in the past, it was not anyone from the Philippines and Bangladesh who were the hackers,” Gomes said during the resumption of the Senate hearing on the issue held at the Bayview Hotel in Manila.
This developed as outgoing Blue Ribbon chairman Sen. Teofisto Guingona III said the panel is wrapping up the investigation to enable lawmakers to come out with a committee report on the matter.
“We have to rush before (June 30),” said Guingona, who is bowing out by June 30 after he failed in his re-election bid.
Guingona said he sees recommendations to amend the current laws on bank secrecy, foreign currency and the Anti-Money Laundering Act (AMLA). He said inclusion of casinos in the list of covered transactions under the AMLA is expected to be part of any amendment.
“We will have to evaluate everything but we will make recommendations to whoever seems accountable or liable for the violations of the AMLA,” Guingona added.
Sen. Sergio Osmeña III, chairman of the Senate committee on banks and financial institutions, said he is recommending possible amendments to the Bank Secrecy Act and the AMLA. He did not discount the possibility that certain bank officials would also be held liable for facilitating the release of the stolen money to the casinos.
“Yes, of course, this is a crime,” added Osmeña, who also did not make it to the winning circle of senatorial bets during the May 9 polls.
Sen. Juan Ponce Enrile, who is on his last term, also sought explanation of how government agencies such as the AMLC, foreign affairs and justice departments are applying domestic laws concerning their dealings with a foreign country.
Anti-Money Laundering Council (AMLC) executive director Julia Bacay-Abad maintained that her office is empowered under the law to extend assistance to freeze and recover assets considered as proceeds from a crime.
“The AMLC may perform such act that would allow the Bangladesh government to claim such forfeited amount,” Abad said. “In this case, the Bangladesh CB may file its claim before the court, and for this purpose I understand the Bangladesh government has approached the DOJ.”
Assurance
Sen. Paolo Benigno Aquino IV took Abad to task on the details of the recovered money. Aquino also thanked the Bangladesh government for its patience, assuring its officials that the Philippine government will leave no stone unturned to ensure the $81-million stolen from its central bank is returned as soon as possible.
“We won’t stop until the money stolen from the Bangladeshi people is returned, up to the last centavo,” Aquino said.
Gomes said his government has been coordinating with the FBI and other investigating agencies to get to the bottom of the issue.
“As of now, we don’t have any information whether any Filipino or Bangladeshi were involved in the hacking. The hacker is not from Bangladesh. There are certain indications who the hacker is… we have information that is not a Bangladeshi or Filipino,” Gomes added.
Gomes also acknowledged the fact that the incident has undermined the banking system of the two countries, but nonetheless, he said the bilateral cooperation between the Philippines and Bangladesh remains strong.
“I am very confident that the Philippine government will be able to recover this $81 million because we don’t want this to drag on forever,” he said.
“The $81 million came here through the RCBC… There are beneficiaries of this amount (like junket operator) Kim Wong, Philrem and casinos… they (probers) have gone all the way, to find out how this money came here,” the ambassador noted. RCBC refers to the Rizal Commercial Banking Corp.
Before the end of the hearing, Gomes also expressed dismay over the delay in the return of the money to his government.
Although junket operator Kim Wong had turned over about P450 million to the AMLC, Wong’s lawyers argued the money is considered “abandoned money” and as such should be subjected to forfeiture proceedings. – With Edu Punay