Rose Carmelle Lacuata, ABS-CBN News

<div class="containing-block"><div class="outer-container"><script language="JavaScript" type="text/javascript" src="http://admin.brightcove.com/js/BrightcoveExperiences.js"></script><object class="BrightcoveExperience" id="myExperience4805580135001"><param name="bgcolor" value="#FFFFFF"/><param name="width" value="510"/><param name="height" value="335"/><param name="playerID" value="1880751799001"/><param name="playerKey" value="AQ~~,AAABtXvbPVE~,ZfNKKkFP3R9qoEvgz2KMCs8gaY-UGBkT"/><param name="isVid" value="true"/><param name="isUI" value="true"/><param name="dynamicStreaming" value="true"/><param name="@videoPlayer" value="4805580135001"/></object><script type="text/javascript">brightcove.createExperiences();</script></div></div><p>MANILA - Philrem Service Corp., the remittance firm tagged in converting into pesos most of the $81 million allegedly stolen by hackers from the central bank of Bangladesh, on Thursday revealed the amount that the company earned from the transaction.</p><p>Salud Bautista, president of Philrem, earlier said they only earned P500 from 10 separate transactions, since they charge a flat rate of P50 per transaction.</p><p>On Thursday, however, Bautista clarified there was a miscalculation on their part. She said the flat rate only applies to services offered to overseas Filipino workers.</p><p>In her statement in the Senate hearing on the money laundering scam, Bautista said the company charged a handling fee of 0.25 percent for the transaction in question.</p><p>She also said that as part of their company&#x27;s values, Philrem will return every centavo it earned from the series of transactions.</p><p>&quot;Having clarified that we would like to say this, trust is an integral part of our business. Philrem has no interest in profiting from any questionable sources. We accepted this transaction with the understanding from the receiving bank that this was a clean and legitimate transaction,&quot; Bautista said.</p><p>She said Philrem will issue to the Bangladesh government a check worth P10,474,654.</p><p>According to Bautista, their company converted into pesos roughly $60 million from the $81 million allegedly stolen from the Central Bank of Bangladesh.</p><p>READ: &#x27;<a href="http://news.abs-cbn.com/business/03/17/16/something-wrong-why-philrem-found-rcbc-transaction-suspicious" target="_blank"><strong>Something wrong&#x27;: Why PhilRem found RCBC transaction suspicious</strong></a></p>

Salud Bautista said Philrem will issue to the Bangladesh government a check worth P10,474,654.

Philrem to return P10M to Bangladesh

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Philrem to return P10M to Bangladesh

Rose Carmelle Lacuata,

ABS-CBN News

Published Mar 18, 2016 03:39 AM PHT

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