Missing Wirecard money not in the Philippine banking system

Lenders BDO and BPI have denied their involvement in the scandal.

The Bangko Sentral ng Pilipinas (BSP) reiterated that none of the $2.1b missing from embattled German payments firm Wirecard has made into the Philippine banking system, reports Reuters.

BSP governor Benjamin Diokno added that BDO Unibank and Bank of the Philippine Islands (BPI), both of which have been dragged into the scandal, suffered no losses.

The search for the missing cash has hit a dead end in the Philippines, but the two lenders have denied the authenticity of the documents showing that Wirecard had allegedly deposited funds into them.

Both have stated that Wirecard was not their client and that they had no business relationship with the German firm. BPI, however, had suspended an assistant manager whose signature appeared on one of the fraudulent documents.

Likewise, BDO told the central bank that it appeared one of its marketing officers had fabricated a bank certificate.

Here's more from Reuters.

Photo courtesy of Pexels.com.

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