On Sunday, the Philippine’s Central Bank had reaffirmed that the German fintech tycoon, Wirecard AG’s missing €2 billion had never made it into the Philippine’s financial system, pointing towards legal attempts looming over fraudulent transactions against the Europe’s second-largest payment processor.
In point of fact, the Philippine’s Central Bank Governor Benjamin Diokno said in a statement on Sunday that two of the country’s largest lenders, BDO Unibank and Bank of the Philippine Islands, had suffered no losses despite having been attached to a scandal related to the missing €2 billion from Wirecard AG’s 2019 balance sheet.
Aside from that, latest statement from Diokno, the Governor of Bangko Sentral ng Pilipinas, the Central Bank of Philippines, came forth a day after media reports had revealed that the German payment processor, which seemed to have added the missing funds only in pen and papers and led to a series of scrutiny for the Frankfurt SEC (Securities and Exchange Commission), had hired a US-based investment bank in order to secure a bailout fund following a termination of roughly €2 billion in debts deals on Friday.
Besides, the Wirecard CEO, Markus Braun, also resigned at the same day citing that the company might be a victim of fraudulent transactions after a search for the missing amount had hit a dead-end in Philippines, while two aforementioned lenders of the Southeast Asian country had told that the documents showing Wirecard AG had deposited the fund, had been fabricated.
Philippines lender BPI suspends an assistance manager over Wirecard payment fraud issue
Meanwhile, as one of the largest lenders in Philippine, BPI had suspended one of its assistance managers, whose signature appeared on one of the fraudulent documents, the country’s Central Bank Governor, Diokno said in a statement on Sunday, “The initial report is that no money entered the Philippines and that there is no loss to both banks.
The international financial scandal used the names of two of the country’s biggest banks — BDO and BPI — in an attempt to cover the perpetrators’ track. ” In tandem, BDO and BPI, both had reaffirmed on Sunday that the German payments firm Wirecard AG had never been their client.