Central Bank of the Philippines imposes maximum administrative penalties on supervisors linked to attendance record falsification

The Monetary Board of the Bangko Sentral ng Pilipinas approved the imposition of maximum administrative penalties on two supervisors in administrative cases tied to falsified attendance records. The sanctions include formal dismissal from service, with consequences including forfeiture of retirement benefits, cancellation of civil service eligibility, perpetual disqualification from holding public office, and a bar from taking civil service examinations. The decision followed Monetary Board deliberations and an investigative report from the BSP legal department, and comes after four BSP staffers were dismissed in July 2024 for falsifying their attendance records, with disqualification from public office and forfeiture of retirement benefits. Two former Monetary Board members to whom the staffers reported resigned in June 2024, and the Office of the President addressed the matter on 15 July 2025. The BSP also pointed to reforms introduced in response, including enhanced supervisor training and employee onboarding on ethics and administrative procedures, reorganization of the Committee on Ethics and Decorum under a Deputy Governor, and a new HR system that migrates timekeeping processes online with supervisor approvals to strengthen monitoring. Further work cited as ongoing includes a study on the organization and management of Monetary Board members’ offices with additional oversight by the Office of the Secretary of the Monetary Board, and steps to strengthen the whistleblower mechanism.