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Bangladesh Bank heist:investigation exposes the Philippines’ vulnerable financial system

The FBI and Bangladeshi authorities are now jointly investigating one of the biggest and boldest transnational cyber-theft cases in the world. A hundred million dollars disappeared from the country’s foreign reserves in Federal Reserve Bank in New York last month. Most of the money was transferred to the Philippines. CCTV’s Barnaby Lo explains how loopholes in the country’s financial system allowed this to happen and how damaging it can be for its fledgling economy.

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