HALISTER1: MORE: Philippine Central Bank Mulls Higher Penalty Vs Laundering

MORE: Philippine Central Bank Mulls Higher Penalty Vs Laundering

(Bloomberg) -- Bangko Sentral ng Pilpinas will propose higher penalty for violations of anti-money laundering law, Deputy Governor Vicente Aquino says in interview.
  • Proposed increase include raising administrative penalty to 1m pesos or 20% of amount of laundered money, whichever is higher
  • Casinos, real estate brokers, art dealers and motor vehicle dealers may be added to list of covered institutions
  • BSP seeking authority to temporarily withhold a transaction for 2 banking days while verifying if it is suspicious
  • NOTE: Philippines Slaps $21.3 Million Fine on Rizal Bank for Heist Link
  • NOTE: Bangladesh Seeks to Reopen Philippine Inquiry Into Stolen Funds Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

People
Vicente Aquino (Bangko Sentral ng Pilipinas)

To de-activate this alert, click here

UUID: 7947283