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PH Identifies 57 POIs on Wirecard Case

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Key Points

  • The anti-money laundering authority in the Philippines identified 57 foreigners, local bank officers, and government officials as “persons of interests” in the Wirecard AG case.
  • The local authorities are working on building cases against domestic violators of the Anti-Money Laundering Act (AMLA) and are waiting for evidence from officials in Germany to file charges against significant people involved in the Wirecard AG case, including former Wirecard COO Jan Marsalek.
  • Local authorities in the Philippines are also examining other companies that could potentially be related to Christopher Bauer, a former Wirecard executive who died in a Philippine hospital in July.
  • Visit The Financial Today’s homepage for more stories.

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The anti-money laundering authority in the Philippines identified 57 foreigners, local bank officers, and government officials as “persons of interests” in the Wirecard AG case.

In a virtual briefing held in Manila, Mel Georgie Racela, executive director of the Anti-Money Laundering Council, said that the authorities are investigating these people’s transactions who are “not necessarily the accused or respondents in a criminal case.”

The local authorities are working on building cases against domestic violators of the Anti-Money Laundering Act (AMLA) and are waiting for evidence from officials in Germany to file charges against significant people involved in the Wirecard AG case, including former Wirecard COO Jan Marsalek.

Local authorities in the Philippines are also examining other companies that could potentially be related to Christopher Bauer, a former Wirecard executive who died in a Philippine hospital in July.

Racela also said that Wirecard’s Philippine unit, Wirecard e-Money Philippines Inc., appears to play no role in the alleged fraudulent activities of its parent company and that the local unit is willing to cooperate with the authorities in the said investigation.

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