RCBC apologizes for involvement in banking heist
MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) on Wednesday apologized to its customers for the involvement of some of its personnel in the $81-million money laundering scheme.
The bank assured that it will cooperate with the Senate Blue Ribbon and Anti-Money Laundering Council on its investigations on the issue.
"RCBC recognizes the evils wrought by money laundering and will do its utmost in the fight against it," the bank said in a statement released on Wednesday.
RCBC is also conducting its own investigation to identify the weaknesses in its controls and operations that may have facilitated the banking heist.
The bank vowed to take appropriate action against any of its officer or staff found guilty of fault or negligence.
On Tuesday, RCBC terminated branch manager branch manager Maia Santos-Deguito and assistant manager Angela Torres for falsification of documents and breach of bank policies and procedures.
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