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Manila Bulletin devider Business devider Banking & Finance devider BSP warns against unlicensed entity 'The Bank of Humanity'

BSP warns against unlicensed entity 'The Bank of Humanity'

Published Jul 28, 2026 07:08 pm
The Bangko Sentral ng Pilipinas (BSP) cautioned the public against transacting with Bangko Maharlika Ltd., an entity currently operating under the name “The Bank of Humanity,” stating that the firm lacks the legal authority to conduct financial services in the country.
In an advisory issued Tuesday, July 28, the central bank said Bangko Maharlika is not licensed, authorized, regulated, or supervised by the regulator.
The BSP added that the firm has failed to register with the Securities and Exchange Commission (SEC), rendering its financial activities completely unregulated under local laws.
The monetary authority urged consumers to verify the legitimate corporate and regulatory status of any institution offering investment opportunities, banking services, or financial products prior to entering into contracts or transferring funds.
It noted that individuals engaging with unauthorized groups risk financial loss without the legal remedies and statutory protections granted to clients of BSP-supervised institutions. Under local banking regulations, deposits and financial dealings with unlicensed entities do not carry institutional safeguards or insurance coverage.
“The BSP encourages the public to remain vigilant and report information or complaints regarding the activities of Bangko Maharlika Ltd. or The Bank of Humanity to the appropriate regulatory or law enforcement authorities,” the central bank said.
The public warning forms part of the central bank’s broader push to curb unregistered investment schemes and unauthorized financial institutions taking advantage of retail investors.
Monetary officials have consistently advised consumers to cross-reference corporate credentials against official registers maintained on the BSP and SEC public portals.
Law enforcement agencies and regulatory bodies are monitoring unauthorized entities attempting to solicit funds or present themselves as legitimate banking firms without proper charters.
The BSP reiterated that any institution using “bank” in its name without proper regulatory clearance violates banking legislation, which reserves the term strictly for licensed institutions operating under state supervision.

Related Tags

Bangko Sentral ng Pilipinas (BSP) Securities and Exchange Commission (SEC) The Bank of Humanity
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