BSP Releases New Guidelines Against Money Laundering

The Bangko Sentral ng Pilipinas (BSP, Philippine central bank) has issued new guidelines that incorporate the lessons learned from recent money laundering and terrorist financing cases. The country was dragged into a money laundering scandal last year when the $81 million funds stolen by hackers from the Bangladesh Bank entered the country using a local bank as conduit. The revised regulations emphasize the importance of sound risk…

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