The Bangko Sentral ng Pilipinas (BSP) has cautioned the public against dealing with virtual asset service providers (VASPs) that are unregistered or those that...
The BSP, PhilSA, and DOST-ASTI recently kicked off the test deployment of satellite Internet service provider iOne Resources Inc. at the Progressive Bank of Malvar and Rural Bank of Cuenca.
The bank’s removal of clickable links in all forms of communications is in support of a BSP memorandum, which contained recommended control measures against cyber fraud and attacks on retail electronic payments and financial services.
The Bangko Sentral ng Pilipinas (BSP) has warned the public to be vigilant against fraud perpetrated through unsolicited emails or text messages with links that redirect the mobile user to highly suspicious websites.
The value of digital payments in the country, meanwhile, represented 44.1 percent of total retail payments in 2021, up from the 26.8 percent recorded a year earlier.
The BSP urged banks instead to personalize SMS messages and emails for banking services and implement mandatory notifications for fund transfers exceeding a predefined amount.
The use of EGov Pay, a system that allows digital payment for government services, jumped by 467 percent to over 91,000 transactions at end-2021 from around 16,000 transactions a year earlier, according to the Bangko Sentral ng Pilipinas (BSP).
The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management Inc., (PPMI) said they will launch “Bills Pay”, “Request to Pay”, and “Direct Debit” facilities.
The Bangko Sentral ng Pilipinas (BSP) said it is exploring applications of machine learning (ML) techniques, particularly in the areas of natural language processing, nowcasting, and banking supervision.
