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The Bureau of Customs (BOC) tightened the nation’s defenses against money laundering and illicit financial flows after seizing ₱5.6 million in undeclared Philippine currency from a Japanese passenger at the Mactan-Cebu International Airport recently. The operation, carried out in line with the directive of President Ferdinand Marcos Jr., highlights the agency’s relentless crackdown on unreported […]
Senate President Pro Tempore Ping Lacson lauded the Bangko Sentral ng Pilipinas over the weekend for tightening the rules on large cash transactions by capping withdrawals at P500,000 per banking day. Lacson, who chairs the Senate Blue Ribbon Committee investigating the corruption behind anomalous flood control projects, said this will make things more inconvenient for […]
Senate Majority Leader Migz Zubiri sounded the alarm on the absence of any law that caps interest rates on online lending applications, warning that the gap leaves millions of Filipinos exposed to predatory practices. At the hearing of the Senate Committee on Games and Amusement, Zub questioned why the Securities and Exchange Commission (SEC) – […]
Online gambling transactions plunged by half after the Bangko Sentral ng Pilipinas (BSP) ordered e-wallet providers to take down gambling site links, days after Senator Alan Peter Cayetano grilled central bank officials in a Senate hearing over their delayed action. During the Blue Ribbon Committee hearing on online gambling, Cayetano slammed the BSP for its […]
Manila 6th District Representative Benny Abante Jr. welcomed the Bangko Sentral ng Pilipinas’ (BSP) directive ordering e-wallet operators to remove in-app links to online gambling, calling it “much-needed victory” in the camping against gambling, but warning that “the war is far from over.” “This is a win for those of us who have been fighting […]
Senate Committee on Games and Amusement Chairperson Senator Erwin Tulfo has issued a stern warning: Bangko Sentral ng Pilipinas (BSP) Deputy Governor Mamerto Tangonan could be cited for contempt if e-wallet links to online gambling apps are not removed by Sunday, August 17. In the inaugural hearing of the Senate panel, the BSP revealed that […]
Bukidnon 2nd District Representative Jonathan Keith Flores urged the Bangko Sentral ng Pilipinas (BSP) and the banks they regulate to “let their social good purposes overcome the temptations that come with billions of pesos in online gambling transactions.” “It is time for serious introspection for the banking community. Online gambling goes against the avowed corporate values, missions, […]
The time to waive service fees on electronic fund transfers is long overdue, Senate President Chiz Escudero said in backing the move of Bangko Sentral ng Pilipinas (BSP) to remove such charges for personal transactions and payments to micro, small and medium enterprises (MSMEs). “I could only hope that the thresholds will be higher and […]
The Bangko Sentral ng Pilipinas (BSP) recently launched its Paleng-QR (Quick Response) Ph Plus program in Bacolod City. The project makes use of digital payments in public markets and transportation hubs following the approval by the Bacolod City Council of the Palengke-QR Ph ordinance in support of Mayor Albee Benitez’s program of promoting a “smart […]
To make sure we will not forget our debt of gratitude to them, it is proper that the Bangko Sentral ng Pilipinas feature Philippine heroes in our peso bills, Senator Robinhood Padilla said. Padilla said it is important to continuously educate Filipinos on our heroes by using money, which all Filipinos – regardless of age […]