The Bangko Sentral ng Pilipinas (BSP) has received an initial report from one of our supervised banks. The BSP is closely coordinating with the Anti-Money Laundering Council Secretariat and other identified institutions to gather additional information and verify details of the transactions. The duration of the onsite review, which will be a focused look on the remittance transactions and processes, will depend on the extent of information that we will be able to gather.

Source: Bangko Sentral ng Pilipinas (BSP)