BSP Statement on the Monitoring of Remittance Transactions

The Bangko Sentral ng Pilipinas (BSP) has received an initial report from one of our supervised banks. The BSP is closely coordinating with the Anti-Money Laundering Council Secretariat and other identified institutions to gather additional information and verify details of the transactions. The duration of the onsite review, which will be a focused look on the remittance transactions and processes, will depend on the extent of information that we will be able to gather.

Source: Bangko Sentral ng Pilipinas (BSP)