The Philippine financial system is “sound” and “very strict” rules are in place when it comes to the issuance of bank certifications, the Bankers Association of the Philippines (BAP) assured in the midst of controversy relating to beleaguered German fintech Wirecard.
“Some individuals may try to forge or falsify these documents, but their authenticity can be readily ascertained through careful scrutiny or verification by the appropriate institutions,” the BAP said in a press statement on Tuesday.
“We encourage the public to practice due diligence in receiving certifications and documents from third parties by having them validated by the issuing bank,” it added.
The BAP said…
Keep on reading: Bankers group vouches for integrity of PH banks