Regulatory Alerts2025-09-18
Circular No. 1218: Regulation on Large Value Cash Transactions
The Bangko Sentral ng Pilipinas issued this circular to amend regulations and impose restrictions on large value cash transactions to mitigate money laundering, terrorism financing, and proliferation financing risks. Financial institutions are required to process cash withdrawals exceeding 500,000 pesos through non-cash methods such as checks or digital transfers, while retaining the authority to set lower internal limits based on risk assessments. Transactions exceeding the threshold remain permissible in cash only after the institution conducts enhanced due diligence and verifies the customer's identity and legitimate business purpose.
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