This photo courtesy of the Bangko Sentral ng Pilipinas shows Governor Felipe M. Medalla (left) explaining that the central bank is looking into proposed amendments to the Bank Secrecy Law that will allow for a thorough examination of bank accounts with suspicious financial transactions.
In a recent meeting of the Financial Executives Institute of the Philippines in Makati City, Medalla said that the amendments being reviewed will strengthen BSP’s capacity to protect depositors from losses due to fraud and other unlawful activities.
With the Governor in the photo are GlobalSource Partners’ Philippines Country Analyst Romeo Bernardo (left) and GT Capital Holdings Inc. Independent Director Consuelo Garcia (right).
Photo courtesy of the Bangko Sentral ng Pilipinas