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The House Committee on Banks and Financial Intermediaries has approved in principle the substitute bill that proposes to regulate the use of bank accounts and E-wallets, stressing the prohibition on their use for unusual and suspicious financial activity. Lower House plenary hall In a committee
The House Committee on Banks and Financial Intermediaries approves, in principle, a substitute bill that would regulate the use of bank accounts and e-wallets to prevent their use for unusual and suspicious financial activities.
The Bangko Sentral ng Pilipinas (BSP) has formed a seven-person Open Finance Oversight Committee Transition Group (OFOC-TG) as the interim governing body to lead the establishment of an open finance ecosystem in the country. Bangko Sentral ng Pilipinas BSP Governor Benjamin E. Diokno, who signe
MANILA - Financial transaction crimes rose especially during the pandemic as more people turned to digital platforms due to movement restrictions, but a monetary executive said affected accounts are less than 1 percent of the total. Melchor Plabasan, Bangko Sentral ng Pilipinas (BSP) Technology Risk and Innovation Supervision Department director, said the banking sector remains "generally safe". "So far, we have been checking the number of accounts that have been compromised not only with this incident but some of the phishing incidents and it's still way, way below 1 percen...
A cybersecurity firm offered recommendations on how to prevent cyber attacks within their organizations amid recent attacks against financial companies