Bangko Sentral raises red flag on 'BSP checks'

The Bangko Sentral ng Pilipinas (BSP) on Wednesday warned the investing public against groups offering checks supposedly issued by the central bank. 

 

In an advisory, the Bangko Sentral said, "As modus operandi, the scammer would pretend to be an authorized BSP representative and would ask for money from victims in exchange of fraudulent checks that are made to appear to be worth millions of pesos each."

 

The Bangko Sentral noted that it "does not issue, secure or guarantee checks and other commercial documents in the name of individuals or private groups."

 

As a regulator, the central bank only transacts with financial institutions under its supervision and does not engage with private individuals, it added. 

 

For inquiries, you may get in touch with the central bank's Financial Consumer Affairs Group via e-mail at consumeraffairs@bsp.gov.ph or call 708-7087. — SOA/VS, GMA News