WARNING: BSP warns against unlicensed ‘Bank of Humanity’ linked to Bangko Maharlika

The central bank says entity is not licensed, authorized, regulated, or supervised by the BSP.

The Bangko Sentral ng Pilipinas has raised a red flag over Bangko Maharlika Ltd., warning the public that the entity, now operating as “The Bank of Humanity,” is not licensed, authorized, regulated, or supervised by the central bank.

The BSP also said the company is not registered with the Securities and Exchange Commission, meaning individuals who choose to transact with it may not have access to the legal protections afforded to customers of BSP-supervised financial institutions.

The advisory serves as a reminder that regulatory compliance remains one of the most important checks before opening an account, investing money, or using any financial service. As digital financial platforms continue to attract more users, verifying whether a company is legally authorized to operate can help consumers and businesses avoid unnecessary financial and legal risks.

“The BSP reminds the public to verify the legitimacy and regulatory status of entities offering financial products, services, or investment opportunities before engaging in any transaction,” it said.

“Individuals dealing with unlicensed and unregulated entities may not be afforded the protections provided under laws and regulations governing BSP-supervised institutions,” the BSP added.

The BSP also encouraged the public to report information or complaints involving Bangko Maharlika Ltd. or The Bank of Humanity to the appropriate regulatory or law enforcement authorities.

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