BSP: “BSFIs should only deal with gambling and/or online gaming businesses that are allowed to operate by the appropriate government agency.” BSP — On Friday, the Bangko Sentral ng Pilipinas ordered BSP Supervised Financial Institutions (BSFIs) to remove all online sabong operators from the list of merchants in their online apps. The central bank said … 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
Senator Poe: “Ang mababang bayarin ay hindi lamang makakabawas sa kanilang gastusin, kundi mag-uudyok din ng lalong paggamit sa mga e-wallet.” On Friday, Senator Grace Poe has asked for the help of the Bangko Sentral ng Pilipinas (BSP) to urge banks and financial institutions to lower digital payment charges and e-wallet fees. In a statement, … Read more
Senator Grace Poe called on financial institutions and banks to fortify digital platforms against cybercrimes. On Tuesday, Senator Grace Poe called on financial institutions and banks to fortify digital platforms against cybercrimes, especially at a time more people were turning to digital transactions. The senator, who chaired the Senate Committee on Banks, Financial Institutions, and … Read more
BSP was working to establish a national approach against cyber fraud. BSP — On Tuesday, the Bangko Sentral ng Pilipinas said that it was working with financial institutions and industry players in order to establish a national approach against cyber fraud. Phishing incidents in the Philippines remained the top cybersecurity concern for BSFIs (BSP-supervised financial … Read more
BSP urged banks to use “alternative data” in order to assess the creditworthiness of borrowers. BSP — The Bangko Sentral ng Pilipinas has urged banks to use “alternative data” in order to assess the creditworthiness of borrowers. The central bank was encouraging banks and financial institutions to make use of other sources or “alternative data” … Read more
BSP told banks to clamp down on digital vote selling and vote buying. BSP — The Bangko Sentral ng Pilipinas told banks and financial institutions to clamp down on digital vote selling and vote buying ahead of the 2022 elections. The central bank has strongly called for the adoption of enhanced surveillance and monitoring measures … Read more
Visa launched a global crypto advisory service for merchants and financial institutions. VISA — As the adoption of digital currencies gained steam, the world’s largest payment processor launched on Wednesday a global crypto advisory service for merchants and financial institutions. The said move came against the backdrop of unprecedented investor demand for crypto services and … Read more