Regulatory Alerts2025-05-27
Reminder on Risk Management Practices on Handling Adverse or Negative Media Reports
The Bangko Sentral ng Pilipinas mandates all supervised financial institutions to integrate Negative Media Report screening into their Customer Due Diligence and transaction monitoring frameworks. Institutions must update their Institutional Risk Assessments, maintain credible NMR databases, and extend screening to beneficial owners and related parties to identify money laundering or terrorist financing risks. The directive requires calibrated account management measures and robust management information systems to ensure Board and Senior Management are informed of significant compliance and reputational risks.
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