trending Market Intelligence /marketintelligence/en/news-insights/trending/G3KnQIDS8CI--qmPx9ef5w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Philippine lender conducting probe into fund transfers after Westpac scandal

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments

Philippine lender conducting probe into fund transfers after Westpac scandal

Bank of the Philippine Islands is conducting a probe into fund transfers made via Westpac Banking Corp.'s LitePay payments channel, which is blamed for the recent money laundering scandal facing the Australian bank, Bloomberg News reported.

BPI spokesman Owen Cammayo said the Philippines-based bank has begun its own probe into money transfers made via LitePay but declined to specify the focus of the inquiry. He said the bank could have "limited visibility" on where the money likely ended up.

BPI immediately ended its remittance partnership with LitePay and informed Philippines' central bank about the matter, Cammayo added.

The report came after Australia's financial intelligence agency in November filed a lawsuit against Westpac, alleging the bank violated anti-money laundering and counterterrorism financing laws on more than 23 million occasions. In its response, the bank said it was shutting down its LitePay international funds' transfer system, among other things. In addition, Westpac CEO Brian Hartzer also stepped down, while its chairman, Lindsay Maxsted, decided to bring forward his retirement to the first half of 2020.