THE Bangko Sentral ng Pilipinas (BSP) has cancelled the certificate of registration of remittance firm Philrem Service Corp.’s (Philrem) for its failure to comply with anti-money laundering rules.
In a statement on Wednesday, the BSP said Philrem violated Section 4511N of the Manual of Regulations for Non-Bank Financial Institutions and Circular 706 that include rules and regulations on anti-money laundering activities.
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