Banks must improve cybersecurity, according to BSP. BSP — The Bangko Sentral ng Pilipinas is requiring stronger, more adequate IT and cybersecurity risk management practices in non-banks and banks’ use of application programming interfaces (APIs) and its interconnections. On Wednesday, the central bank released Memorandum No. M-2022-016 — a new memorandum for API security controls … Read more
BSP is reminding banks and non-banks to deal only with licensed gambling businesses. BSP — The Bangko Sentral ng Pilipinas is reminding banks and non-banks to transact only with licensed gambling and online gaming businesses. The central bank is reminding BSFIs (BSP supervised financial institutions) to transact only with gambling and online gaming businesses that … Read more
BSP told banks and financial institutions to work with AMLC. BSP — On Tuesday, the Bangko Sentral ng Pilipinas told banks and financial institutions to work with the Anti-Money Laundering Council (AMLC). The central bank reminded all of its BSFIs (BSP supervised financial institutions) to report and coordinate with AMLC any suspicious transactions following its … Read more