Bangladesh bank heist exposes Philippine dirty money secrets

Manila

WHEN mystery hackers launched a stunning raid on Bangladesh's foreign reserves, a plot worthy of a John le Carre spy novel was sparked in the Philippines, exposing the South-east Asian nation as a dirty money haven.

The US$81 million stolen from the Bangladesh central bank's American accounts last month was immediately sent via electronic transfer to the Philippines' RCBC bank, with the thieves deliberately targeting their laundering location.