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Cross-border money laundering puts Philippine system at risk

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NOT ON HIS WATCH: Mr Tetangco has vowed to address loopholes in local laws to prevent a recurrence of cross-border money laundering cases.

Manila

THE Philippines' financial system is facing a risk because of the US$81 million that was stolen by hackers from the New York Fed account of Bangladesh's central bank and then transferred to Manila, the country's central bank governor said on Friday.

"If you look at the

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