The Bangko Sentral ng Pilipinas (BSP) has issued an advisory cautioning the public to be careful when transacting with Bangko Maharlika Ltd., which currently uses the business name “The Bank of Humanity.” The central bank clarified that this firm is not licensed, authorized, regulated, or supervised by the BSP, nor is it registered with the Securities and Exchange Commission.
The BSP reminded everyone to always check if an entity is legitimate and properly regulated before availing of any financial products, services, or investment offers. People who deal with unlicensed and unregulated groups will not receive the legal safeguards that apply to institutions overseen by the central bank. The public is also urged to stay alert and report any information or complaints about the activities of Bangko Maharlika Ltd. or “The Bank of Humanity” to the relevant regulatory bodies or law enforcement agencies.
