ALMC is investigating alleged money laundering involving RCBC, three other banks – Palace

By , on March 12, 2016


(Photo from RCBC's Facebook page)
(Photo from RCBC’s Facebook page)

MANILA – Malacañang on Friday on Friday said the Anti-Money Laundering Council (AMLC) is investigating the alleged USD 100 million money laundering scam involving four banks including the Rizal Commercial Banking Corp. (RCBC).

“The Anti-Money Laundering Council is investigating the matter to determine the identities of those involved,” Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. told the Malacanang media.

Coloma advised the public to wait for the findings of the AMLC on the reported laundered USD 81 million which was allegedly deposited in the RCBC-Jupiter branch in Makati City.

The RCBC, for its part, has reportedly organized a committee to look into the case.

“It is best that we await the findings of the AMLC. The next administration and the incoming Congress will have the opportunity to act on possible legislation that could strengthen government’s capability to stop money laundering activities,” Coloma said.

Coloma is hoping that the ALMC would act swiftly into the matter and punish those responsible behind the alleged scam that created anxiety to the financial system.

“We have the law to address this concern and the AMLC is already doing its part. The council has proven it before and they acted on the right direction to stop the illegal transactions. So we’re hoping that we can maintain our status as a compliant country on the aspect of international financial transactions,” the PCOO chief said.