Organized criminal syndicates have proved resilient in the face of regulatory shifts in the Philippines, reinventing their operations to avoid shutdowns after a government purge dismantled many of their once-flourishing cyber scam hubs. When the Philippines was grappling to survive through the end...
The Bangko Sentral ng Pilipinas (BSP) reported a sharp decline in counterfeit currency overall last year, though the regulator is contending with a sudden spike in fake polymer banknotes. According to the Bangko Sentral ng Pilipinas’ (BSP) annual report, documented counterfeit banknotes fell 17.1...
Lending by universal and commercial banks (U/KBs) posted its fastest growth in 15 months in May, as lenders continued to see steady credit demand from businesses and households in the second quarter of 2026. The latest preliminary Bangko Sentral ng Pilipinas (BSP) data showed bank lending growth...
Tightened rules and stricter oversight of the gaming sector may have hampered efforts to recover revenues lost in previous quarters, but global credit rating agency S&P Global Ratings said a more supportive visa policy and the rebound in online gambling could help gaming operators bounce back in...
Investigators found the statements of eight former Marines to be “categorical and consistent” regarding alleged money deliveries to former House Speaker Martin Romualdez and former party-list Representative Zaldy Co, the Office of the Ombudsman (OMB) said on Thursday, July 2. Assistant...
Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) are prohibited from entering into partnerships that would allow unlicensed third-party players to conduct electronic money (e-money) operations. “BSFIs shall not enter into any arrangement that results in another person...
Around ₱500 billion is the estimated annual loss the Philippines incurs from tax evasion within the nation’s financial system, proving to be a major threat the country’s fiscal health has been grappling with. This staggering figure has placed tax crimes at the forefront of the Anti-Money...
Bank lending accelerated to its fastest pace in nine months in April, fueled by the sharp rebound in credit demand from corporate borrowers and steady household spending. Preliminary data released by the Bangko Sentral ng Pilipinas (BSP) showed that outstanding loans granted by universal and...
ILOILO CITY – The Western Visayas Anti-Money Laundering and Counter-Terrorism Task Force is investigating a foreigner allegedly behind 46 fake corporations registered in Iloilo and other parts of the country. “We have an ongoing investigation into a foreigner who faked his nationality to form...
Reforms in public procurement, infrastructure oversight, and accountability must be fully carried out to ensure that the billion-peso flood-control corruption scandal does not happen again and those responsible are made to answer, according to four governance and business groups. In a joint...
The Philippine Amusement and Gaming Corp. (Pagcor) ordered casino operators to integrate specific corruption-linked red flags into their compliance systems, escalating its clampdown on dirty money moving through the country’s gaming hubs. Licensed operators and their service providers have six...
A 48-year-old woman was arrested on Wednesday night, May 20, after allegedly using a counterfeit ₱1,000 bill to pay for groceries in Barangay Flores, Malabon City. Based on the report of Malabon City Police (MCPS) Station Sub-Station 7, the suspect bought grocery items worth P300 at a consumer...
