BSP given full authority to probe bank accounts

The Philippines newly revised Anti-Money Laundering Act returns the central bank's authority to inquire into any bank deposit. The Bangko Sentral ng Pilipinas lost this power a decade ago under the 1993 Central Bank Act.

Source: The Manila Times

The newly approved implementing rules and regulations (IRR) of the revised Anti-Money Laundering Act (AMLA) has completed the return of the central bank's authority to inquire anytime into any bank deposit-a power it lost a decade ago with the passage o