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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.

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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. 

Inquirer bags 3 Sopa awards

2017-06-17 newsinfo.inquirer.net
A hat trick for Inquirer’s Raffy Lerma with his third win for his now iconic photo “Lamentation”

House OKs bill including casinos in AMLA

2017-06-04 philstar
MANILA, Philippines - The House of Representatives has approved on third and final reading a bill including casinos in the coverage of the Anti-Money Laundering Law (AMLA).

RCBC settles fine early

2017-05-23 philstar
Based on its information sheet submitted to the Philippine Stock Exchange (PSE), RCBC prepaid the balance of P500 million this month ahead of the August deadline. File

China Bank woos RCBC for merger talks

2017-05-20 philstar
Multiple industry sources said China Bank has initiated merger talks with the Yuchengco-owned RCBC – the bank used as a conduit for the $81-million fund hacked from Bangladesh Bank to Philippine casinos last year –  but nothing has been finalized yet. File

BSP arms banks with tools to ward off cyberattacks

2017-05-15 philstar
MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) has taken a proactive stance to arm Philippine banks with the necessary tools to address the increasing level of cyberattacks that continue to confront the global as well as local financial communities.

Contempt of Supreme Court hangs over DAR

2017-05-13 newsinfo.inquirer.net
The Supreme Court (SC) had directed Agrarian Reform Secretary Rafael Mariano and a group of farmers to explain why they should not be held in contempt for failing to distribute 4,900 hectares of farmlands in Hacienda Luisita in Tarlac City.

SC orders DAR, farmers to explain inaction on Hacienda Luisita

2017-05-11 newsinfo.inquirer.net
The Supreme Court has ordered the Department of Agrarian Reform (DAR) and the farmers’ group Alyansa ng mga Manggagawang Bukid sa Hacienda Luisita (Ambala) to show cause why they should not be cited in contempt of court for disobeying its 2011 and 2012 resolutions on the distribution of Cojuangco-owned sugar estate Hacienda Luisita to thousands of its farm worker beneficiaries (FWBs).

Sale rumors pushing up RCBC share price

2017-05-07 philstar
MANILA, Philippines - The share price of Rizal Commercial Banking Corp. (RCBC) has been steadily climbing for three weeks now on speculation the bank may finally be put on the auction block following the demise of its founding chairman, banking taipan and former ambassador Alfonso Yuchengco on April 15.

Former RCBC branch manager seeks dismissal of money laundering case

2017-05-04 globalnation.inquirer.net
RCBC branch at Jupiter St., Makati City ( File photo by RAFFY LERMA / Philippine Daily inquirer)

Economist, investment banker eyed as new Monetary Board members

2017-05-03 philstar
MANILA, Philippines - An economist and an investment banker are top candidates to the central bank’s Monetary Board as the search for the new governor of the Bangko Sentral ng Pilipinas (BSP) continues to heat up.

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