BSP caps bank cash withdrawals at P500,000 to curb laundering

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) ordered banks to limit over-the-counter cash withdrawals to P500,000 a day. This is part of efforts to reduce money laundering risks tied to large-value transactions. This developed as the BSP investigated bank accounts linked to individuals accused of anomalies in government flood control projects. The central

SEC warns vs C’preneur Perfume Trading

MANILA, Philippines — The Securities and Exchange Commission (SEC) has warned against investing in C’preneur Perfume Trading, which is allegedly enticing the public to participate in unauthorized investment schemes. In a Sept. 16 advisory, the commission said C’preneur was supposedly offering investment packages worth P2,500 to as much as P100,000. READ: SEC files criminal complaints