FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.
Starting 11 May, the Google Play Store will introduce a new screening process for personal loan apps targeting users in the Philippines.
The SEC warns that suspected or actual misuse of the NPO sector for terrorism financing can present serious ramifications for an NPO's intended beneficiaries.
The government is seeking to prevent and penalise abusive debt collection practices, misrepresentations, and unreasonable terms and conditions.
The BSP says trust companies can use the internal audit function of a parent bank or NBFI, or outsource internal audit activities to an external firm.
Under new relations, Philippine banks and NBFIs are required to implement automated and real-time fraud monitoring and detection systems by end-December.
The 85-year-old Public Service Act has been amended to allow full foreign ownership in the airlines, telecommunications, shipping, railway and irrigation sectors.
The BSP is looking to explore the use of CBDC in account-based distribution of cash assistance, as well as in cross-border money transfers.
E-money can refer to monetary value "electronically stored in an instrument or device" - including cash cards, prepaid cards, stored value cards or digital wallets.
The Philippine Domestic Dollar Transfer System and the PHP-USD Payment versus Payment System have been designated systemically important.
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