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STAR reporters bag EJAP awards

2017-10-22 philstar
MANILA, Philippines (Updated 9:54 a.m.) — Business reporters of The Philippine STAR bagged two awards at the 26th Economic Journalists Association of the Philippines (EJAP) Business Journalism Awards. (4-0)

IBM to Speed Up Global Payments with New Blockchain Solution

2017-10-16 zacks
International Business Machines Corp. (IBM - Free Report) recently unveiled a blockchain-based banking technology aimed at aiding financial institutions to simplify and quicken cross-border transactions. (74-0)

Home Credit secures P2.25 B syndicated bank loan facility

2017-10-14 philstar
MANILA, Philippines — Consumer financing firm Home Credit Philippines (HCPH) recently secured a P2.25 billion syndicated loan facility which will help sustain the growth of its operations in the country. (4-1)

BSP eases rules on banks’ bond issues

2017-10-07 philstar
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has hit the ground running to speed up the development of the domestic debt market as part of additional game-changing financial sector reforms in the medium term. (15-0)

Rape, homicide charges filed in court against top bank exec

2017-10-03 newsinfo.inquirer.net
The Mandaluyong City Prosecutor’s Office has formally filed rape with homicide charges in court against a top bank executive accused of raping and strangling his 18-year-old maid in a Mandaluyong condominium in September last year. (4-1)

BDO pads dominance, assets hit P2.32 T in H1

2017-10-02 philstar
MANILA, Philippines — BDO Unibank Inc. maintained its dominance in the banking industry in terms of total assets, capital, deposits, and loans in the first half of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed. (15-1)

Bangladesh seeks gov’t help anew in recovery of stolen funds

2017-10-01 philstar
MANILA, Philippines —  Bangladesh is appealing to the Duterte administration to help recover the remaining $66 million stolen by hackers from the Bangladesh Bank. (4-2)

Banks upgrading card security features

2017-09-18 philstar
MANILA, Philippines — Security Banking Corp. and Rizal Commercial Banking Corp. (RCBC) are upgrading the security features of their debit cards to protect clients against fraud and cyber threats. (8-0)

Security Bank, RCBC roll out online card lock feature

2017-09-18 bworldonline
CUSTOMERS of Security Bank Corp. and Rizal Commercial Banking Corp. (RCBC) now have the option to employ online card locking to prevent thieves from gaining access to their accounts. (8-0)

Cathay Life Insurance hikes stake in RCBC

2017-09-13 philstar
MANILA, Philippines — Cathay Life Insurance Co. Ltd. of Taiwan spent P416 million to beef up its stake in Rizal Commercial Banking Corp. (RCBC) after the Yuchengco-led bank raised P2.5 billion from a recent fund raising activity.

LRWC H1 profit down 40%

2017-08-17 philstar
MANILA, Philippines - Leisure and Resorts World Corp. saw its first half income nearly halved to P362 million, down 40 percent year-on-year.

Money launderers face stiffer sanctions

2017-08-15 philstar
MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) yesterday said banks and covered persons found to have engaged in money laundering face stiffer sanctions and higher fines under the revised implementing rules and regulations adopted by the Anti-Money Laundering Council (AMLC).

RCBC earns P2.35 B in H1

2017-08-13 philstar
MANILA, Philippines - Rizal Commercial Banking Corp. (RCBC) slipped 10 percent in the first half due to higher expenses.

How did Bautista amass ‘P1 billion’?

2017-08-11 newsinfo.inquirer.net
Commission on Elections (Comelec) Chair Andy Bautista has asked his estranged wife Patricia to stop “this media circus” as their children are being affected by their public quarrel.

FATF-compliant PH dodges APG membership action

2017-08-10 business.inquirer.net
The Philippines escaped action to be meted by the regional watchdog guarding against dirty money transactions after casinos were placed under the coverage of the anti-money laundering law.

Comelec chief accuses wife of extortion attempt

2017-08-07 newsinfo.inquirer.net
His wife’s allegation that he amassed P1 billion in ill-gotten wealth was part of her attempt to “extort” from him, Commission on Elections (Comelec) Chair Andres Bautista said on Sunday.

Wife says poll chief has unexplained wealth

2017-08-06 newsinfo.inquirer.net
After meeting with President Rodrigo Duterte, the wife of Commission on Elections Chair Andres Bautista submitted last week to the National Bureau of Investigation an affidavit, saying that the Comelec chief might have amassed nearly P1 billion worth of ill-gotten wealth.

Ding Zhize: Baccarat Binge Helped Launder Biggest Cyberheist | Fortune.com

2017-08-03 fortune
For someone supposed to be laundering millions of dollars in stolen funds, with investigators from three countries scrambling to track the money, Ding Zhize was a surprisingly unhurried man. He’d brought a dozen or so high rollers from ­China to play in the glitzy VIP room in MetroManila’s Solaire casino. The game was baccarat. It was late February 2016—still high season for Asian casinos, thanks to the Lunar New Year holiday­—and Ding had been here for days.

LRWC loses 60 out of 138 online gaming operators

2017-07-30 philstar
MANILA, Philippines - Leisure and Resorts World Corp. (LRWC), the listed gaming company founded by Negros Occidental Rep. Alfredo “Albee” Benitez, has lost around 60 online gaming companies under its First Cagayan Leisure and Resort Corp. in Cagayan since Pagcor tightened the noose on the industry.

Expect more mergers, acquisitions — FMIC

2017-07-27 philstar
MANILA, Philippines - Mergers and acquisitions, as in the previous years, are expected to continue this year even as interest rates are expected to rise, along with the trend in the global interest rate environment.

Anti-money launder law to bar dirty cash from casinos – BSP

2017-07-19 business.inquirer.net
MANILA — The inclusion of casinos in the coverage of the anti-money laundering law will help strengthen the fight against illicit cash inflows, according to Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla Jr..

BDO, Metrobank, BPI dominate industry in Q1

2017-07-10 philstar
MANILA, Philippines - Family-owned BDO Unibank Inc., Metropolitan Bank & Trust Co. and Bank of the Philippine Islands continued to dominate the banking industry in terms of assets, capital, deposits and loans in the first quarter of the year.

Special seminar on compliance to Anti-Money Laundering Law

2017-07-08 philstar
MANILA, Philippines - The Center for Global Best Practices (a BSP-accredited training provider) is holding a special program titled “Best Practices Guide to Compliance with the Anti-Money Laundering Law and Its IRR” on Aug. 24, 2017 at the EDSA Shangri-La Hotel, Mandaluyong City.

Solon who lost wife in casino attack speaks of pain, brings up theft

2017-06-22 newsinfo.inquirer.net
The congressman whose wife died in the Resorts World Manila attack broke his silence on Thursday to explain his absence at the just-concluded House inquiry into the June 2 incident and to express his sorrow over his loss.

P5-M threshold for casinos too high, says AMLC exec

2017-06-18 philstar
MANILA, Philippines -  A member of the country’s Anti-Money Laundering Council (AMLC) said the P5- million threshold for casinos is too high and should be lowered to cover more suspicious transactions.