Philippines

    image

    Anti-Money Laundering

    The Case for Change: Leveraging GenAI in Anti-Financial Crime

    By Bradley Maclean | 07/08/2024

    GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.

    image

    Payments & Settlements

    BSP Amends Guidelines for Payments Settlement Systems

    By Sanday Chongo Kabange | 01/08/2024

    The BSP said the revised guidelines provide operational flexibility to ACHs under the NRPS framework namely InstaPay and PESONet.

    image

    Structural Regulation

    BSP Set to Reopen Applications for Digital Bank Licences

    By Sanday Chongo Kabange | 30/07/2024

    BSP Governor Eli Remolona said a circular would be released “soon” indicating when the application window will be reopened.

    image

    Payments & Settlements

    BSP Introduces Framework for Merchant Payment Activities

    By Sanday Chongo Kabange | 26/07/2024

    The framework sets out regulatory requirements for operators of payment systems that engage in merchant payment acceptance activities.

    image

    CBDCs

    Philippines: BSP to Conclude CBDC PoC by Year-end

    By Nithya Subramanian | 26/07/2024

    Testing of the DLT and wCBDC tokenisation is complete. Two test runs of sandbox experiments are now being conducted.

    image

    Fraud, Scams & Cybercrime

    Philippines Announces Total Ban on Offshore Gaming Operators

    By Mark Johnston | 25/07/2024

    The ban announced by the President will impact more than 400 POGOs, most of which are unlicensed and operate underground.

    image

    Payments & Settlements

    Philippines Launches Automated Intraday Settlement Facility

    By Sanday Chongo Kabange | 24/07/2024

    The facility will provide liquidity to ensure payments flow smoothly through the RTGS system, known as PhilPaSSplus.

    image

    Fraud, Scams & Cybercrime

    Philippines Enacts Anti-Financial Account Scamming Act

    By Editors | 22/07/2024

    The law institutionalises penalties for social engineering-related crimes and online scams, including the use of mule accounts.

    image

    KYC & CDD

    Philippine SEC Launches New Digital Services Platform

    By Editors | 22/07/2024

    The eSECURE platform will serve as a user’s digital passport to the different online services provided by the SEC.

    image

    Anti-Money Laundering

    Philippine Agencies Seek Ban On Offshore Gaming Operators

    By Nithya Subramanian | 19/07/2024

    Officials from various government departments said POGO activities paint a negative picture of the Philippines and result in lower tourism revenues.

    JOIN OUR NEWSLETTER

    An exclusive weekly selection of top stories from the Regulation Asia editorial team.