In the middle of Barangay Bagong Silangan, a crowded neighborhood in Quezon City, the regular sound of a commercial freezer door opening and closing tells you everything you need to know about the local economy. Two years ago, Ivy Joy Tomasar did not exist as far as the local banking system was...
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...
Technology has made financial services more accessible, faster, and more inclusive, especially for those underserved by traditional banking. This is the power of embedded finance, which seamlessly integrates financial services into everyday platforms and digital experiences, allowing people to...
Philippine banks must strengthen safeguards against money laundering and terrorism financing across all payment activities, the Bangko Sentral ng Pilipinas (BSP) ordered, warning that banks remain accountable for violations even when using third-party payment aggregators. Under Memorandum No....
The Anti-Money Laundering Council (AMLC), the Philippine financial intelligence unit, has begun searching for its next executive director as Matthew David prepares to step down and seek another position within the Bangko Sentral ng Pilipinas (BSP). David led several asset freezes and seizures...
The Philippine National Police (PNP) on Friday, Feb. 20, expressed full support for President Marcos Jr.’s directed for government agencies to craft a national strategy to combat money laundering and terrorism financing as part of the administration’s intensified campaign against financial...
The Securities and Exchange Commission (SEC) has penalized Global Dominion Financing Inc. for employing unfair and abusive debt collection practices through third-party agents amid tightening of oversight on the nation’s lending sector. In a formal order, the SEC’s Financing and Lending...
Micro, small, and medium-sized enterprises (MSMEs) and women entrepreneurs across the Philippines are set to gain significantly better financial access after the Asian Development Bank (ADB) approved a P1.75 billion ($30 million) loan facility to Fuse Financing Inc., the lending arm of GCash, the...
TACLOBAN CITY — After over six years in detention, journalist Frenchie Mae Cumpio and activist Marielle Domequil were convicted of terrorism financing by the Regional Trial Court (RTC) Branch 45 here on Thursday. But the court acquitted them of charges of illegal possession of firearms and...
President Marcos has called on global financial institutions to make climate financing more accessible and fairer. Malacañang said Marcos "reiterated calls for reforms in global financial institutions to make climate and development financing fairer, more accessible, and more responsive" during...
Small businesses remain the backbone of Southeast Asia’s economy, generating two out of every three jobs across the region. Yet despite their vital role, micro, small, and medium enterprises (MSMEs) continue to face systemic barriers that hinder their growth—chief among them, limited access to...
