This is in response to a Formal Warning that was issued to BSP by the Financial Analysis and Supervision Unit (FASU) on 12th July, 2021. The formal warning was issued after an onsite review conducted on 23rd October, 2019.
FASU identified that BSP had failed to comply with the Anti-Money Laundering and Counter Terrorism Financing Act 2015 (AML/CTF Act 2015) and BSP’s own AML/CTF Policy.
