Bank heist bares Philippine money law flaws

Unauthorized transfers from Bank of Bangladesh sent US$81 million in illegal funds to Philippine banks and casinos, attracted by lax anti-money laundering laws.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at; follow him on Facebook and Twitter @MuhammadCohen.