Sunday, February 16, 2025
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BSP warns public against SMS hijacking

Text hijacking is a modus operandi where fraudsters insert themselves into legitimate text message conversations, making their messages appear safe by blending in with other messages from a trusted source.

BSP completes testing for proof-of-concept of Central Bank Digital Currency

Project Agila is a proof-of-concept of the BSP’s Central Bank Digital Currency (CBDC) at the wholesale level.

BSP orders GCash to refund deductions as DICT starts probe

The Bangko Sentral ng Pilipinas (BSP) has instructed GCash to immediately resolve the reported unauthorized deductions on account balances of affected GCash users and swiftly complete the process of refunds.

PH gov’t urging employers to disburse salaries via digital means

The Bangko Sentral ng Pilipinas (BSP) and the Department of Labor and Employment (DOLE) are encouraging leaders of the labor and employer sectors to promote the use of safe and efficient digital wage payments.

BSP opens door to 4 more digital banks

The Bangko Sentral ng Pilipinas (BSP) has approved the lifting of the moratorium on the grant of new digital banking licenses starting Jan. 1 2025 and allowed a maximum of ten digital banks to operate in the country.

BSP unveils 5-year cybersecurity plan for finance sector

The Financial Services Cyber Resilience Plan (FSCRP) serves as a roadmap and primary framework aimed at enhancing the resilience of the financial services sector against cyber threats.

BSP says 50% of retail payments in PH now in digital format

The share of digital payment transactions to total monthly retail payments in the Philippines grew from 42.1 percent in 2022 to 52.8 percent in 2023, according to the 2023 Report on E-Payments Measurement of the Bangko Sentral ng Pilipinas (BSP).

BSP denies endorsing crypto project, warns against scams in social media

The Bangko Sentral ng Pilipinas (BSP) asked the public on Friday, July 12, to be more vigilant against scams because the use of artificial intelligence (AI) to create or manipulate fake videos and audios make them appear more believable.

BSP issues standards in resolving issues for online fund transfers

The circular also covers the required turnaround time to return the funds to the sender’s account for fund transfers not received by the beneficiary. These periods are significantly shorter than the current response time of financial institutions which usually takes around two to three banking days.

BSP, SEC warn public against firm offering ‘cloud mining machines’

The Bangko Sentral ng Pilipinas (BSP) asked the public to be discerning of the claim of a company called SK Pools Mining Corporation that its “products, services, and assets are licensed, authorized, guaranteed, verified, certified, or confirmed by the BSP.”
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