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BSP enables banks to freeze funds

Summary by Inquirer
MANILA, Philippines – Banks and financial institutions that the Bangko Sentral ng Pilipinas (BSP) supervises may now temporarily hold suspicious funds to stop fraudsters and other financial criminals. The regulator said the intention is to prevent the movement of money stolen from one account to another. Circular No. 1215, which BSP Governor Eli Remolona Jr.

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BSP enables banks to freeze funds

MANILA, Philippines – Banks and financial institutions that the Bangko Sentral ng Pilipinas (BSP) supervises may now temporarily hold suspicious funds to stop fraudsters and other financial criminals. The regulator said the intention is to prevent the movement of money stolen from one account to another. Circular No. 1215, which BSP Governor Eli Remolona Jr.

·Manila, Philippines
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Inquirer broke the news in Manila, Philippines on Tuesday, June 3, 2025.
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