BSP Advisory on Fraudulent Documents Allegedly Required by the Central Bank

April 13, 2020 – Early this year, the Bangko Sentral ng Pilipinas (BSP) warned the public against email, text messages, or any communication asking for the submission of and payments for documents allegedly required by the Central Bank.

The Central Bank said some scammers pretend to be BSP officials, asking individuals and corporations for submission of documents that, the scammers will claim, will fast track transactions in favor of the recipients. This is in exchange for confidential information (whether personal or corporate) and fees.

Thus the BSP advises the public:

• The Central Bank does not issue or guarantee commercial documents or products.
• The Central Bank does not transact with any person, corporation, or institution at random.
• The BSP only deals with authorized or accredited counterparties, mostly BSP-supervised financial institutions (BSFIs), duly-recognized partners, and contracted suppliers or service providers.

The public must beware of fake documents that contain the following:

• Imitations of the BSP seal, logo, and official-looking document formats
• Forged or digitally-copied signatures of BSP officials, employees, or consultants.
• Alleged BSP products or services by fake BSP officials, employees, or consultants.

The BSP recommends for the public to immediately report such cases to the the following:

• BSP Center for Communications and Investors Relations (corao@bsp.gov.ph)
• BSP Center for Learning and Inclusion Advocacy (consumeraffaird@bsp.gov.ph)

This article is published on BitPinas: BSP Advisory on Fraudulent Documents Allegedly Required by the Central Bank