While the Bangko Sentral ng Pilipinas (BSP) moves to ramp up its anti-money laundering system, the central bank chief said the ₱500,000 cash withdrawal limit has so far been a “very effective” measure.
“I think it’s very effective so far. As best we can tell, it’s a very effective measure,” BSP Governor Eli M. Remolona Jr. told reporters during an Oct. 13 press chat on the central bank’s thought leadership in research.
Remolona said the ₱500,000 cap aligns with
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