BSP caps bank cash withdrawals at P500,000 to curb laundering
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) ordered banks to limit over-the-counter cash withdrawals to P500,000 a day. This is part of efforts to reduce money laundering risks tied to large-value transactions. This developed as the BSP investigated bank accounts linked to individuals accused of anomalies in government flood control projects. The central