Part of stolen BD funds still in Philippine casinos

Testimonies at a Philippine Senate hearing showed about $6.9 million stolen by cybercriminals from the Bangladesh central bank's account in the Federal Reserve Bank of New York and sent to fictitious account-holders in the Philippines remain in local casinos and may still be recovered.

 

Kam Sin Wong, a Chinese junket operator in the Philippines, told the hearing Tuesday that $81 million was remitted by two casino junket agents and gamblers including a Beijing resident named Gao Shuhua whom he has known for eight years and a Macau resident named Ding Zhize he just met in February.

 

He indicated some money was lost at casino tables or was missing, reports philstar.

 

The laundering of Bangladesh's stolen money in the Philippines has added pressure on it to close loopholes in its financial system.