BSP Fund/Wire Transfer Policies Memo

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BSP Memorandum No. M-2015-007: BSP Fund/Wire Transfer Policies Memo

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Title Supreme Court: BSP Fund/Wire Transfer Policies Memo

Law: Bsp Memorandum No. M-2015-007

Decision Date: Jan 26, 2015

BSP Memorandum No. M-2015-007 mandates covered institutions to implement stringent policies and procedures for fund and wire transfers to prevent the transmission of proceeds from unlawful activities, emphasizing enhanced due diligence for high-risk customers and accurate originator information for transactions of P50,000 or more.

fund transfers

wire transfers

unlawful activities

END