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.
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.
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.”
The Bangko Sentral ng Pilipinas (BSP) issued the memorandum apparently due to continuing complaints that some banks refuse to recognize the national ID as proof of identity because the card itself does not display the person’s signature.
The Bangko Sentral ng Pilipinas (BSP) said it is bullish on the sustained rise of digital payment technologies in the country, saying that 50 percent of retail payments are now in digital format.
The Bangko Sentral ng Pilipinas (BSP) has onboarded OmniPay to the roster of financial institutions that settle high-value transactions through the BSP-owned and operated PhilPaSSplus.
The Bangko Sentral ng Pilipinas (BSP) has extended for another year or until Dec. 15, 2024 the moratorium on the entry of new electronic money issuer-non-bank financial institutions (EMI-NBFIs).
After canceling the registration of Bexpress Inc. as a virtual asset service provider (VASP), the Bangko Sentral ng Pilipinas (BSP) has announced it has also annulled the VASP license of Coinville Philippines.
The Bangko Sentral ng Pilipinas (BSP) said it has selected Hyperledger Fabric as its distributed ledger technology (DLT) for its Central Bank Digital Currency (CBDC) pilot project: Project Agila, formerly known as Project CBDCPh.
