MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has raised the cash withdrawal threshold that triggers enhanced due diligence, easing compliance for routine transactions while keeping tighter scrutiny on higher-risk activity. READ: bsp-caps-bank-cash-withdrawals-at-p500000-to-curb-laundering Under Circular No. 1230 dated Feb. 27, the central bank increased the threshold to P1 million from P500,000 following consultations with banks and industry groups that flagged a high volume of legitimate transactions breaching the previous cap. These included payroll releases, loan proceeds and project-based disbursements. The adjustment also reflects findings from the latest anti-money laundering National Risk Assessment and ongoing surveillance monitoring, the BSP said, […]... Keep on reading: BSP raises cash withdrawal threshold for dirty money checks to P1M