00:00 The Banko Sentral ng Pilipinas or BSP urged banks and financial institutions to be on
00:05 the lookout for large transactions that may actually be vote buying and vote selling activities
00:11 related to the barangay and sangguniang kabataan elections.
00:16 The appeal was made through memos signed by BSP Deputy Governor Chuchi Fonashear calling
00:22 for adoption of enhanced surveillance and monitoring measures to prevent the misuse
00:27 of the financial system.
00:29 The central bank also requested that financial institutions exercise more control in detecting
00:35 and preventing fraudulent accounts and transactions during and before the conduct of the said
00:41 political exercise.
00:42 [MUSIC PLAYING]
