None of the $2.1 billion missing from scandal-hit German funds agency Wirecard AG seems to have entered the Philippine financial system, the central bank stated on Sunday.
Bangko Sentral ng Pilipinas Governor Benjamin Diokno stated in an announcement the Southeast Asian nation’s greatest lenders, BDO Unibank and Bank of the Philippine Islands, suffered no losses, regardless of having been named in reference to the missing funds.
The chief govt of Wirecard, Markus Braun, who constructed the corporate into one of the most well liked financial know-how investments in Europe and a uncommon tech champion for Germany, stop on Friday as the corporate faces a money crunch after saying it might have been the sufferer of fraud.
The seek for the missing money hit a useless finish within the Philippines, however the two Philippine banks have stated paperwork purporting to indicate Wirecard had deposited funds with them had been false.
“The preliminary report is that no cash entered the Philippines and that there isn’t any loss to each banks,” Diokno stated, although he added that the central bank was investigating.
“The worldwide financial scandal used the names of two of the nation’s greatest banks – BDO and BPI – in an try and cowl the perpetrators’ observe,” he stated.
BDO and BPI have acknowledged that Wirecard was not their shopper and that that they had no enterprise relationship with the German agency, Diokno stated.
BPI, nevertheless, advised Reuters on Saturday that it had suspended an assistant supervisor whose signature appeared on one of the fraudulent paperwork.
BDO advised the central bank that it appeared one of its advertising and marketing officers had fabricated a bank certificates. Diokno reiterated the Philippine banking system was in a robust place going into the Corona Virus pandemic and well-capitalized.