In response to the cyber frauds that continue to plague the public, the Bangko Sentral ng Pilipinas has issued BSP Memorandum No. M-2022-015 requiring banks and other financial institutions regulated by the BSP to adopt additional control measures. Note that this is an advice, not a mandate. Thus, financial institutions are not strictly required to implement these measures in their transactions. However, should an incident happen, it is likely that a bank's failure to show pr