BSP Raises Cash Withdrawal Threshold to P1 Million to Strengthen Money Laundering Checks
Manila, March 4, 2026 – The Bangko Sentral ng Pilipinas (BSP) has announced an increase in the cash withdrawal threshold for money laundering checks to Php 1 million. This move aims to bolster efforts in preventing and combating money laundering activities across the Philippines’ financial system.
Previously, cash withdrawals exceeding a lower threshold amount triggered mandatory scrutiny under the BSP’s anti-money laundering regulations. By raising the threshold to Php 1 million, monetary institutions will now conduct enhanced monitoring and due diligence only on cash withdrawals above this new limit. This adjustment is designed to streamline processes while maintaining robust safeguards against illicit financial transactions.
The BSP’s enhanced measure aligns with its continuous commitment to strengthen the country’s financial integrity and uphold regulatory compliance. Financial institutions are expected to update their monitoring protocols accordingly to adhere to the updated threshold and continue reporting suspicious activities where warranted.
This initiative is part of the BSP’s broader strategy to ensure transparency and accountability within the banking sector, supporting the government’s wider agenda of protecting the Philippine economy from illicit financial flows.
As the central monetary authority, BSP’s move also demonstrates its proactive role in aligning with international standards and best practices concerning anti-money laundering (AML) and counter-terrorism financing (CTF) efforts.
The BSP encourages the public and banking institutions to stay informed of these changes as they work hand in hand to safeguard the financial system against abuse.
For more details on the updated cash withdrawal threshold and the BSP’s money laundering guidelines, visit the official Bangko Sentral ng Pilipinas website.
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