The Bangko Sentral ng Pilipinas (BSP) issued a public advisory warning consumers against transacting with Bangko Maharlika Ltd., an entity operating under the name “The Bank of Humanity.”
According to the advisory, Bangko Maharlika Ltd. is not licensed, authorized, regulated, or supervised by the BSP. The central bank added that the firm is also not registered with the Securities and Exchange Commission (SEC).
Regulatory Warnings and Consumer Safeguards
The central bank urged the public to verify the legitimacy and regulatory status of any entity offering financial products, services, or investment opportunities prior to engaging in transactions.
The BSP noted that individuals dealing with unlicensed and unregulated entities are not afforded the legal protections or safeguards provided under regulations governing BSP-supervised institutions.
The regulator encouraged the public to report information or complaints regarding the activities of Bangko Maharlika Ltd. or The Bank of Humanity to appropriate regulatory or law enforcement authorities.
Recent BSP Digital Payment Initiatives
The warning follows the BSP’s launch of three digital payment services on July 29, 2026, in collaboration with the Philippine Payments Management, Inc. (PPMI). The new services include Direct Debit PH, InstaPay Cash-In, and InstaPay for Business, the latter of which increased transfer limits for registered businesses from PHP 50,000 to PHP 500,000.
The BSP also reminded the public regarding transaction fee structures, noting that “QR Ph” applies to person-to-merchant payments where merchants shoulder transaction fees, while “InstaPay QR” applies to person-to-person transfers where fees may apply. Additionally, regulatory guidelines require financial institutions to align interbank electronic transfer fees with actual processing costs, leading to lower or waived transfer fees across several participating banks and e-wallet providers.
This article is published on BitPinas: BSP Issues Advisory Against Unlicensed Entity Bangko Maharlika Ltd
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