The investigation centres on suspected acts of corporate espionage, breach of trade secrets and violations of banking secrecy laws.
February 9, 2023BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a "limited relaxation of the bank secrecy laws".
August 27, 2022Limited actions to amend bank secrecy laws present risks to the Philippines. Casinos, the gaming industry, and crypto exchanges are flagged as risky.
June 14, 2022The BSP welcomed the move, saying the bill will provide the central bank tools to investigate illegal activity and improve the safety of the banking system.
August 20, 2021Bank secrecy has prevented the SEC from validating information and establishing the owners of bank accounts linked to securities violations.
June 21, 2021The groups say the Philippines lags the world on bank secrecy and allows politicians and other government officials to hide unexplained wealth.
June 2, 2021AMLC Executive Director Mel Georgie Racela told Regulation Asia that incorrect STR filings identified in a recent review will result in supervisory action.
May 24, 2021BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.
April 23, 2021Bank capital adequacy could fall to 11.7% by 2022 in a baseline scenario, 9.3% in an adverse scenario, and 4.9% in a severe adverse scenario.
April 20, 2021Deputy Governor Chuchi Fonacier spoke to Regulation Asia about planned measures to promote digital payments, help MSMEs, and further strengthen the banking sector.
December 7, 2020