>> A trail gone cold, three months after hackers stole more than $80 million from Bangladesh's central bank and sent it to casinos in the Philippines. Authorities are no closer to catching the thieves or recovering the bulk of the funds. Investigators say certain laws in the Philippines make it near impossible to follow the money.
They told Reuters Raju Gopalakrishnan, the mastermind seemed to have chosen the Philippines for that very reason.>> In the Philippines, casinos are not covered under the anti-money laundering law so in effect you can gamble any amount. They are not required to report any suspicious transactions or any suspicious players.
Even if the amounts that need to be laundered are immense the amounts gambled in Philippine casinos can be very large as well. At one table in one casino we saw a million Hong Kong dollar chip. We had a pit boss tell us that he has seen one gambler lose $80 million in one night.
>> One source told Reuters the heist looks to be the work of a team of masterminds who hired the hackers and set the whole thing up. And there's more than just legal loopholes getting in the way of tracking them down. There's also been criticism of the investigation itself.
The Philippine version of the FBI has been sidelined and the anti-money laundering council is running the show.>> The AMLC is a fairly small organization. They seem to be struggling with a lack of resources. Definitely the larger agencies in the country have not been involved in the way that they themselves would like to be.
>> A senate committee is now working on drawing up new laws to help close legal loopholes. But one senator warned that may be tough, saying some law makers are resisting because it could mean their own finances coming under the microscope.