Philippines higher authority recently says there has an opportunity to recover some percentage of the cash wrongfully taken from the Bangladesh Bank’s record at the Federal Reserve of New York.

The cash washed from the BB record was supposedly channeled into different records at nearby banks and gambling clubs in Manila. A story keep running by ABS-CBN News from Manila on Monday cited the director of the Filipino securities and trade commission (SEC), Teresita Herbosa, as having communicated such certainty.

“I’m certain in some way or another, some of it will be recouped,” Herbosa was cited to have said. Herbosa is additionally an individual from the counter IRS evasion board (AMLC).

As per the report, she was tight-lipped about the examination concerning the charged tax evasion. She simply said she would not like to pre-empt the Senate hearing on the issue booked for Tuesday, read the ABS-CBN News story.

The SEC chief still said the incident should be a “good stimulus” to prompt legislators to strengthen the anti-money laundering act (AMLA), like adding certain groups or individuals, such as casinos, as covered institutions.

ABS-CBN News said casino clubs were let well enough alone for the document, when Congress affirmed revisions in 2013. In those days, there was substantial campaigning from gambling clubs to be barred from the rundown. It was then contended that the business which was in its outset stage, could take a hit, the report included.

She said she doesn’t know about any correspondence from the Financial Action Task Force (FATF) following the time when news about the heist broke out.

FATF is the worldwide between legislative body that creates, elevates approaches to battle tax evasion and terrorist financing. The following meeting is planned to be held in July.

Herbosa, in any case, is not stressed the late embarrassment will hurt the Philippines’ appraising and picture

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