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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2016/business/philrem-president-salud-bautista-jonathan-cellona,-abs-cbn-news-031716.jpg"/><figcaption><div class="embed-desc">Philrem President Salud Bautista answers questions during the senate probe on the $81-million money laundering scheme on Tuesday. Jonathan Cellona, ABS-CBN News</div></figcaption></figure></div>MANILA - PhilRem Service Corp., the remittance firm tagged in converting most of the $81 million stolen funds supposedly from the central bank of Bangladesh into pesos, said a red flag was raised when another bank inquired about a multi-million dollar transaction.In a statement, PhilRem said it received a call on February 16 from a bank, which it did not name, questioning transactions it made with RCBC.PhilRem narrated in its statement that it was instructed by the branch manager of &quot;the bank in question,&quot; RCBC Jupiter branch, on February 5, 2016 &quot;to transfer funds immediately.&quot; February 5 was when $81 million was infused into four accounts in RCBC Jupiter.PhilRem said it then received another call from RCBC on February 9, inquiring about the February 5 transaction.&quot;We were asked what the money was for and whose money was it, given that the instructions were coming from a branch manager of the same bank. We said that we are relying on the representation of the bank, that it has already undertaken face-to-face contact and customer identification requirements. The bank then assured us that these transactions were valid and that there were no irregularities. Given the assertion, coupled with our company’s respect and longstanding relationship with the bank in question, we had been assured of the validity of the transactions. Therefore, we carried on with the transaction following due process,&quot; the remittance firm said.The transactions between PhilRem and RCBC were fulfilled on February 13.Salud Bautista, president of PhilRem, earlier told the Senate committee investigating the alleged money laundering scandal that <a href="http://news.abs-cbn.com/business/03/15/16/casino-junket-operator-got-30-m-in-cash" target="_blank">millions of dollars</a> were remitted to PhilRem from the account of businessman William Go. Go has denied owning the RCBC account.PhilRem then remitted the money--already in pesos--to Eastern Hawaii Leisure Co. ($21 million) and Bloomberry, operator of Solaire ($29 million).&quot;Come February 16, 2016, Tuesday, in the afternoon, we got a call from another bank, given that one of the beneficiaries used an account under their bank. This bank inquired where the funds came from and we told him that they are for the transaction request for the same client of the same branch manager of the bank in question—the bank that originally received and cleared the funds,&quot; PhilRem said. &quot;When asked if we knew the client, we said that we were relying on the representation of the receiving bank, which according to them, had already undertaken face-to-face contact and customer identification requirements*. He then made an identification requirement request of the client, to which we complied. Because of the unusual situation, we asked if there were any irregularities in the transaction made, with which he disclosed to us the current incident,&quot; it added.PhilRem said it then called the branch manager of RCBC Jupiter, Maia Santos-Deguito, and &quot;told her that there might be something wrong with the recent transactions processed.&quot;&quot;By February 17, 2016, Wednesday, in the afternoon, we filed a Suspicious Transaction Request (STR) in compliance with the Anti-Money Laundering Council (AMLC),&quot; PhilRem said.Deguito and four others are facing <a href="http://news.abs-cbn.com/business/03/14/16/rcbc-branch-manager-sued-for-money-laundering" target="_blank">money-laundering</a> charges filed by the AMLC.

MANILA - PhilRem Service Corp., the remittance firm tagged in converting most of the $81 million stolen funds supposedly from the central bank of Bangladesh into pesos, said a red flag was raised when another bank inquired about a multi-million dollar transaction.

'Something wrong': Why PhilRem found RCBC transaction suspicious | ABS-CBN

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'Something wrong': Why PhilRem found RCBC transaction suspicious

'Something wrong': Why PhilRem found RCBC transaction suspicious

ABS-CBN News

Published Mar 17, 2016 08:30 PM PHT

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