The Bangko Sentral ng Pilipinas (BSP) has issued a public warning urging Filipinos to exercise extreme caution when dealing with Bangko Maharlika Ltd., which is currently operating under the name “The Bank of Humanity.”
According to the central bank, the entity is not licensed, authorized, regulated, or supervised by the BSP and is not registered with the Securities and Exchange Commission (SEC), raising concerns over its legitimacy.
The BSP reminded the public to always verify the regulatory status of any company offering financial services, investment schemes, or banking products before entrusting them with money or personal information.
The central bank stressed that individuals who transact with unlicensed and unregulated entities may not be protected by Philippine laws and regulations that safeguard customers of BSP-supervised financial institutions, exposing them to greater financial and legal risks.
The BSP also called on the public to remain vigilant and immediately report any information or complaints involving Bangko Maharlika Ltd. or The Bank of Humanity to the appropriate regulatory agencies or law enforcement authorities.
The advisory forms part of the BSP’s continuing campaign to protect consumers from unauthorized financial operators and to promote a safer and more secure financial system.