MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has opened an inquiry into unusually large cash withdrawals linked to possible corruption in flood control projects. The investigation focuses on potential weaknesses in banks’ safeguards that could leave them liable for lapses.
Following this development, state-run Land Bank of the Philippines (LandBank) announced that it would open its own internal review.
https://business.inquirer.net/549523/bsp-checks-cash-flow-bared-in-flood-probes-sanctions-loom