The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) has imposed maximum administrative penalties on two former supervisors found guilty of falsifying employee attendance records—marking a strong enforcement of its integrity policies.
In a resolution dated 20 August 2025, the MB upheld the BSP Legal Department’s findings and formally dismissed the individuals from service. The penalties include forfeiture of retirement benefits, cancellation of civil service eligibility, lifetime disqualification from holding public office, and a ban on taking civil service examinations.
This follows the July 2024 dismissal of four BSP staffers involved in the same scheme, and the June 2024 resignation of two former MB members associated with the case. The Office of the President addressed the matter on 15 July 2025.
The BSP stated that the disciplinary process began in November 2023 and followed due process. “This action reflects the BSP’s strong stance on accountability and our resolve to safeguard the integrity of the institution,” it said.
The central bank also announced a series of reforms to prevent future misconduct:
- Mandatory ethics and discipline training for supervisors;
- Inclusion of the case in new employee onboarding;
- Deployment of a digital HR system to monitor timekeeping and supervisor approvals;
- Reorganization of the Ethics and Decorum Committee under a Deputy Governor;
- Review of MB office structures to strengthen internal oversight;
- Enhanced whistleblower protections.
While deemed an isolated case, the BSP acknowledged it revealed procedural gaps, now being addressed through systemic and cultural reforms to reinforce ethical governance.
