The Bangko Sentral ng Pilipinas (BSP) has issued an advisory reminding the public that bank accounts and e-wallets are strictly personal and must only be used by their registered owners.
Authorities note that scammers often approach individuals, offering payment in exchange for the use of their accounts to send or receive funds. The BSP warns that accepting such requests exposes users to significant risks including financial loss, unauthorized transactions, and involvement in illegal money mule operations.
Policy and Legal Significance
Under the Anti-Financial Account Scamming Act (AFASA), allowing another person to use your account for unlawful activities is a criminal offense. Account holders remain fully liable and responsible for all transactions processed through their accounts, regardless of who initiated them.
Safety Guidelines
• Use your account solely for your own legitimate transactions
• Never share access or permit others to transact on your behalf
• Verify all transaction details before confirmation
• Report any suspicious or unauthorized activity immediately
The central bank emphasizes that responsible use of digital payment channels is essential to protect personal finances and maintain the integrity of the financial system.
