MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has ordered banks to limit over-the-counter cash withdrawals to ₱500,000 per day. This measure is part of efforts to reduce money laundering risks associated with large-value transactions.
The development comes as the BSP investigates bank accounts linked to individuals accused of anomalies in government flood control projects. The central bank aims to strengthen financial regulations and enhance transparency in the banking sector.
https://business.inquirer.net/547952/bsp-caps-bank-cash-withdrawals-at-p500000-to-curb-laundering
