DFDL November 11, 2021 - Phnom Penh, Cambodia Philippines: Guidelines on the Submission of Reports on Crimes and/or Losses by Banks and Non-Banks with Quasi-Banking Functions (NBQB) by Segolene Leffy On 12 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Memorandum No. M-2021-72, to provide guidelines on the submission of the reports on crimes and/or losses (“RCL”). The following are the submission procedures under the Memorandum:
The prescribed DET, the CP and the User Guide can be downloaded from www.bsp.gov.ph/SES/reporting_templates.
Prescribed Deadline
Email Address for Submission
Format for the Subject Email RCLBank Name Prescribed File Naming Convention
Each DET-RCL shall be accompanied by its corresponding CP. Transmissions without the required CP shall be considered incomplete and unsubmitted.
Email submissions exceeding the above size limit shall automatically be rejected and will be considered as unsubmitted.
Reports that do not conform with the above-prescribed procedures shall not be accepted and will be considered non-compliant with the existing reportorial requirements subject to applicable penalties for late and/or erroneous submission of RCL. The following may result in an erroneous or failed submission:
The information provided here is for information purposes only, and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
ContactsPartner, Ocampo & Suralvo Law Offices
Senior Associate, Ocampo & Suralvo Law Offices
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