The Bangko Sentral ng Pilipinas (BSP) has directed banks and financial institutions to bolster their digital defenses against vote-buying and selling.
This directive instructs institutions to enhance surveillance and monitoring to prevent illegal election-related schemes on digital platforms.
Measures include reinforcing customer onboarding, fraud management systems, and transaction monitoring to prevent fraudulent accounts and transactions.
The BSP suggested looking for red flags such as a surge in account registrations in vote-buying hotspots, large cash transactions during the election period, and high volume in cash-in or cash-out channels.
The BSP has strengthened coordination with the Commission on Elections (Comelec) and the Philippine National Police (PNP) to address vote-buying and selling transactions made via financial platforms.
Comelec Commissioner Ernesto Maceda Jr. previously reported incidents of vote-buying in areas like Misamis Oriental, Apayao, Negros Occidental, and Baguio.
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