Regulatory Alerts2026-02-27
Circular No. 1230: Risk-based Recalibration of Enhanced Due Diligence Threshold for Large Value Cash Transactions
The Bangko Sentral ng Pilipinas issued Circular No. 1230 to recalibrate the Enhanced Due Diligence threshold for large value cash transactions from Five Million Pesos to One Million Pesos. This amendment to the Manual of Regulations for Banks and Non-Bank Financial Institutions requires supervised entities to implement risk-based EDD procedures for cash payouts exceeding the new limit within a single banking day. Financial institutions must file suspicious transaction reports if EDD cannot be completed or if there is a risk of tipping off the customer, while retaining the discretion to adopt lower limits based on their specific risk assessments.
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