Tuesday, April 16, 2013

Bank Fraud in the Philippines

Think about it, an established commercial bank falling prey to fraud. Read the news story below, thanks to the Journal Online for the scoop.
A 60-YEAR-OLD widow who withdrew $9,000 from the dollar account of a media practitioner inside a Makati bank was arrested and is being held at the National Capital Region Police Office headquarters in Camp Bagong Diwa in Taguig City.
Elaine Ramos Mable, of 84-A Saturday St., Poblacion, Mandaluyong City, was turned over to the NCRPO Police Intelligence and Operations Unit by officials of the Eastwest Bank Legaspi-De la Rosa branch in Makati Friday afternoon, said NCRPO chief Director Leonardo A. Espina.
Espina said their initial investigation showed that with the help of unidentified cohorts who remained at large and using fraudulent identification cards and other bank papers, Mable withdrew $9,000 from the Bank of Guam dollar account of one Peter Paul Sales, 38, media practitioner, of Merville Park, ParaƱaque City.
The NCRPO chief said that the fraud was detected at 4:30 p.m. Friday by bank officials led by Joel Bambao, prompting them to hold the widow for investigation. The suspects reportedly managed to get hold of Sales’ personal check worth US$22,661.70 and withdrew $9,000 (roughly Php360,000) from it.
Espina said the Makati bank referred the case to the NCRPO-RPIOU headed by Supt. Ronald Lee which is now investigating the case. 
The widow was brought to the Makati city Prosecutor’s Office for filing of criminal charges.
She is now being held at the RPIOU headquarters pending resolution of the criminal complaint against her. 
Espina said the other suspects are still being hunted by Lee’s men.  

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