Philippines: Guidelines on the Submission of Reports on Crimes and/or Losses by Banks and Non-Banks with Quasi-Banking Functions (NBQB)
by Segolene Leffy
On 12 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Memorandum No. M-2021-72, to provide guidelines on the submission of the reports on crimes and/or losses (“RCL”).
The following are the submission procedures under the Memorandum:
- Banks and NBQBs shall follow the existing manner of reporting a crime and/or loss incident, i.e., one reference number per incident in one data entry template (“DET“) and Control Prooflist (“CP“) for the Initial Report and Final Report.
The prescribed DET, the CP and the User Guide can be downloaded from www.bsp.gov.ph/SES/reporting_templates.
- The DET for the RCL (“DET-RCL”) and the corresponding CP shall be electronically transmitted. Please take note of the following:
Prescribed Deadline
-
- Initial Report – Not later than ten (10) calendar days from knowledge of crime/incident
- Final report – Not later than twenty (20) calendar days from termination of investigation
Email Address for Submission
Format for the Subject Email
RCLBank Name
Prescribed File Naming Convention
| File |
File Name |
File Format |
| DET |
_. |
.xls |
| CP |
_. |
.pdf |
Each DET-RCL shall be accompanied by its corresponding CP. Transmissions without the required CP shall be considered incomplete and unsubmitted.
- More than one RCLs may be attached in one email submission provided that the maximum size limit is 25 megabytes. The size limit pertains to the combined size of all the elements in the email comprising of text, headers, and attachments.
Email submissions exceeding the above size limit shall automatically be rejected and will be considered as unsubmitted.
- Banks and NBQBs shall use only email addresses officially registered with the Department of Supervisory Analytics (“DSA“) when electronically submitting reports.
Reports that do not conform with the above-prescribed procedures shall not be accepted and will be considered non-compliant with the existing reportorial requirements subject to applicable penalties for late and/or erroneous submission of RCL. The following may result in an erroneous or failed submission:
- Failure to use the correct/updated templates
- Failure to use an officially registered email address
- Transmitting to the wrong email address
- Failure to use the prescribed file names and file format
The information provided here is for information purposes only, and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
Contacts
Jude Ocampo
Partner, Ocampo & Suralvo Law Offices
[email protected]
Kath Enriquez
Senior Associate, Ocampo & Suralvo Law Offices
[email protected]
www.ocamposuralvo.com
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