Regulatory Alerts2025-03-23
BSP Memorandum M-2025-006: Reminder Against Vote-Buying and Abuse of State Resources in Elections
The Bangko Sentral ng Pilipinas issued this memorandum to all supervised financial institutions to enhance surveillance and monitoring measures against vote-buying, vote-selling, and abuse of state resources ahead of the 2025 elections. The regulator requires institutions to tighten controls on digital channels and calibrate fraud management systems to detect suspicious patterns such as concentrated account registrations, large cash transactions, and unusual transaction flows. BSFIs are mandated to submit suspicious transaction reports to the Anti-Money Laundering Council when warranted by complex or unjustified activities indicative of electoral fraud or money laundering.
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