Regulatory Alerts2025-07-08
Reminder on Non-Discrimination Against Certain Types of Customers, including Persons of Concern (POC)
The Bangko Sentral ng Pilipinas (BSP) reminds all BSP-Supervised Financial Institutions (BSFIs) to ensure non-discrimination against certain customer types, including Persons of Concern (POC), when implementing anti-money laundering/countering terrorism and proliferation financing (AML/CTPF) regulations and conducting customer due diligence. Persons of Concern, such as refugees, asylum seekers, and stateless persons, must be ensured access to financial services and connectivity as part of their fundamental rights under relevant international conventions. Accordingly, BSFIs are required to review their existing Money Laundering and Terrorism and Proliferation Financing Prevention Programs, align internal policies and procedures on non-discrimination with existing AML/CTPF laws, and cascade these updates to all concerned officers and staff for consistent application.