Gaps in banking and AML laws need urgent attention, Philippine deputy says

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There is an urgent need to address "major gaps" in the legal framework of the Philippines' banking sector, a deputy governor from the Central Bank of the Philippines (BSP) has said. Just over $81 million was absorbed by the Philippine casino network after its theft from the Bangladesh Bank in February.

However, the pace of reform is in jeopardy, as the senate committee investigating the scandal has ended its talks due to political uncertainty.

Unidentified hackers stole $101 million from

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