The Manila Police District (MPD) Warrant and Subpoena Service-Criminal Investigation and Detection Group (WSS-CIDU) on Thursday afternoon served a warrant of arrest to former Secretary of Foreign Affairs Perfecto Yasay Jr at his home in Makati City.
According to a statement issued by the MPD, representative from the Bangko Sentral ng Pilipinas (BSP), Atty. Jonn Irvin Velasques appeared at their office and requested for police assistance to implement the warrant of arrest against Yasay.
The statement added that after proper coordination with the concerned police district, the team together, with Atty. Velasques proceeded to Yasay’s residence and served him the order of arrest dated March 8, 2019, issued by Judge Danilo Leyva of Manila RTC Br. 10.
The arrest warrant is for the former DFA official’s several violations of the provisions of Republic Act 8791 otherwise known as the General Banking Law, and Republic Act 7653 otherwise known as the New Central Bank Act.
Based on the information of the case, Yasay, together with five associates of the Banco Filipino Savings and Mortgages Bank conspired and aided each other in securing a loan amounting to 350-million pesos for Tierrasud Incorporated which was partly guaranteed and secured by Tropical Land Corporation.
Yasay and company allegedly failed to report such loan accommodation to the BSP.
Yasay was initially brought to the MPD for documentation and set to be transferred to CDS while awaiting commitment order from the court of origin.
On his Facebook account, Yasay denied the allegation, pointing out that he joined Banco Filipino in 2009, while the alleged crime was committed from 2003 to 2006.
He also stressed that he will not post bail until he is brought before the judge where he said he will question such act which he described as “an abuse of process” and a mockery to the justice system.
He also posted a picture of him taken by his wife while being processed for a mugshot.
Yasay served as Secretary of Foreign Affairs of the Philippines in an ad interim basis from June 30, 2016 until March 8, 2017. (with details from Lea Ylagan) /mbmf
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) on Wednesday said it has relaxed the requirement for the presentation of a valid identification document (ID) for customer boarding and select transactions during the enhanced community quarantine period in Luzon.
In a statement, the BSP said this is to facilitate the delivery of welfare funds to identified beneficiaries who have no available valid IDs or transactional account with any financial institutions.
“The Bangko Sentral relaxed the Know Your Customer (KYC) requirements since the accounts involved are considered as low risk,” it said.
The policy is effective until June 30, 2020, the central bank said.
Under the relaxed KYC requirements, the BSP said it has introduced the following control measures to guard against money laundering and terrorism financing risks:
the transactions in the account shall not exceed P50,000.00 per day;
qualified customers are those who reside or conduct business in the area which has been declared to be under ECQ/CQ;
customers are required to certify that he/she has no valid ID; and
the customer’s account activities shall be subject to ongoing monitoring.
“Financial institutions are expected to obtain the required minimum information from the customer and perform risk-based customer due diligence,” the central bank said.
“The relaxed KYC requirements apply to both over the counter and electronic or online transactions,” it added.
The BSP said the move is part of its initiatives to ensure that Filipinos have continuous access to basic government and financial services amid the COVID-19 situation.
The National Capital Region Police Office (NCRPO) on Tuesday (March 24) confirmed the first case of coronavirus disease (COVID-19) in the Manila Police District (MPD).
In a statement, the NCRPO said the first confirmed COVID-19 case was considered as person under investigation (PUI) last March 17.
NCRPO Chief PMGen. Debold Sinas immediately ordered to disinfect and decontaminate the station where the confirmed case was assigned.
“As soon as the decontamination takes place, other police officers will take over the duties and responsibilities of the station while the colleagues are considered PUIs,” Sinas said.
Sinas also said they are already conducting contact tracing of those who had contact with the NCRPO patient.
“We will advise them for home quarantine until March 28,” he said.
“We are also human beings susceptible to COVID-19. And as law enforcers, we are facing higher risks of exposure to this pathogen as part of our pledge to serve and protect our fellowmen,” he added.—AAC (with reports from Lea Ylagan)
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) on Saturday urged the public to use e-banking and digital payment services amid the threat of novel coronavirus disease (COVID-19) in the country.
In a statement, the BSP said the use of digital banking enables the public to carry out needed financial transactions safely amid this public health crisis.
The central bank also assured that the banking industry will continue providing essential services to its clients, and that banks have activated their business continuity plans that aim to ensure deposit-taking, ATM withdrawals, check clearing, and other banking activities.
“The coronavirus outbreak is a public health crisis, not a financial crisis. Depositors are advised to remain calm as the banking system has the ability to serve all withdrawals within a reasonable period,” it said.
The BSP also said it is closely coordinating with the Bankers Association of the Philippines, Chamber of Thrift Banks and Rural Bankers Association of the Philippines for the industry’s current cash requirements.
“In addition, payment settlements continue to be performed through PhilPass,” the central bank said.
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