Tag: Sangla-ATM schemes

BSP to public: Refrain from participating in “sangla-ATM” schemes

(Eagle News)–The Bangko Sentral ng Pilipinas on Saturday, May 20, urged the public to refrain from participating in “sangla-ATM” schemes. According to the BSP, the scheme, which sees Automated Teller Machine cardholders sharing their ATM cards and personal identification number as collateral for loans, may lead to financial troubles. It said this was because it may be difficult for these cardholders to monitor withdrawals made by people to whom the ATM card and PIN were […]