MANILA, Philippines—The Philippine central bank is continuing its crackdown on money changers violating anti-money laundering regulations with another one being stripped by the Monetary Board of its license recently.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said its policy-making body cancelled the certificate of registration as a foreign exchange dealer or money changer of a firm called Nashima Money Changer.
Without specifying violations, the BSP said this money changer was found to be in breach of central bank rules governing the operation of non-bank financial institutions, especially those concerning regulations set by the Anti-Money Laundering Act.
This …
Keep on reading: BSP shuts down another money changer for anti-laundering breach