Philippines: Banks ordered to monitor deposit accts used in online transaction
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is clamping down on online foreign exchange brokerage and trading platforms organized abroad to protect the interest of investors. BSP Governor Nestor Espenila Jr. issued Memorandum M-2018-032 reminding all banks to deal only with companies involved in or operating online foreign exchange brokerage and trading platforms that are authorized or licensed by, […]
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