Latest Breaking News On - Nd banks are bound by law to exercise the highest degree of diligence in protecting their clients 39 interest bsp will hold accountable should they fail observe measures protect - Page 1 : comparemela.com

(File photo) MANILA - The Bangko Sentral ng Pilipinas (BSP) and the Bankers Association of the Philippines (BAP) said stringent measures are in place against the proliferation of fake banknotes, like those dispensed through the automated teller machines (ATMs). This, as the central bank earlier called on the public to be more vigilant on checking paper bills they get even from ATMs. "ATM services are part of core banking functions, and banks are bound by law to exercise the highest degree of diligence in protecting their clients' interest. The BSP will hold the banks accountable should they fail to observe measures to protect their clients," BSP said in a public advisory on Friday. The central bank said financial institutions "have a responsibility to guarantee that banknotes coming from their ATMs are genuine, consistent with the BSP's Financial Consumer Protection Framework, which requires financial service providers, such as banks, to conduct ethical business

ManilaPhilippinesThe philippinesBangko sentralBankers association of the philippinesServices protectionBankers associationConsumer protection frameworkServices protection actFinancial consumer protection actIle photo manila the bangko sentral ng pilipinas bsp and bankers association of philippines bap said stringent measures are in place against proliferation fake banknotesIke those dispensed through the automated teller machines atms thisS the central bank earlier called on public to be more vigilant checking paper bills they get even from atms quot atm services are part of core banking functionsNd banks are bound by law to exercise the highest degree of diligence in protecting their clients 39 interest bsp will hold accountable should they fail observe measures protectUot bsp said ina public advisory on friday the central bank financial institutions quot havea responsibility to guarantee that banknotes coming from their atms are genuineOnsistent with the bsp 39s financial consumer protection framework