The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) issued a public warning urging consumers to refrain from dealing with individuals or entities that misrepresent themselves as being affiliated with, or supervised by, the BSP. The central bank underscored that BSP personnel do not extend loans, solicit money, or request information that could compromise consumers’ financial accounts. It also clarified that it does not offer or maintain deposit accounts for individuals and does not participate in transactions between private persons, and encouraged the public to verify any claimed BSP connection and report suspected illegal or fraudulent activity directly to the BSP.
Central Bank of the Philippines 2025-08-20
Central Bank of the Philippines warns public to avoid dealing with individuals falsely claiming BSP affiliation or supervision
The Central Bank of the Philippines (BSP) warned consumers against entities falsely claiming BSP affiliation. The bank stressed that BSP personnel do not offer loans, solicit funds, or request sensitive financial information, and it does not maintain deposit accounts for individuals. Consumers should verify BSP connection claims and report suspected fraud directly to the BSP.