Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
BSP to issue new rules on unregulated AI risks
The Philippine Star
|March 12, 2025
The Bangko Sentral ng Pilipinas (BSP) is preparing to issue new regulations aimed at mitigating the potential risks posed by the use of artificial intelligence (AI) in the financial services sector, an official said.
Melchor Plabasan, senior director of the BSP's Technology Risk and Innovation Supervision Department, said the new rules to be released within the first half of this year aim to address gaps in existing regulations that do not yet cover some AI-specific risks.
"We all know that AI is one of the main drivers of the industrial revolution. Our financial institutions are already leveraging AI for hyper-personalization, seamless client onboarding, fraud detection, credit scoring and customer service," he said.
"But AI also introduces new risks that must be managed," he added.
This story is from the March 12, 2025 edition of The Philippine Star.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Philippine Star
The Philippine Star
Palace activates nat'l disaster response plan
As the country grapples with the effects of recent cyclones, Malacañang ordered national government agencies to implement the 2024 National Disaster Response Plan (NDRP), which contains strategies to effectively mitigate calamity risks and effects and ensure the timely delivery of aid to affected areas.
2 mins
September 26, 2025
The Philippine Star
Contrition first
People are now very angry about corruption, beyond the flood control scam.
4 mins
September 26, 2025
The Philippine Star
Kean Cipriano sings new UAAP theme song
I do not know if there exists an official theme song of the UAAP league. You know, a sort of rah-rah tune that can be played during the games.
2 mins
September 26, 2025
The Philippine Star
Comelec probing 55 contractors over poll donations
Fifty-five contractors suspected of making illicit campaign donations in the 2022 general elections are being investigated, according to the Commission on Elections.
1 min
September 26, 2025
The Philippine Star
Teodoro faces rape, lascivious acts charges
Two policewomen have filed charges of rape by sexual assault and acts of lasciviousness against Marikina City 1st District Rep. Marcelino Teodoro before the Department of Justice (DOJ).
1 mins
September 26, 2025
The Philippine Star
ADB still open to funding more flood control projects
But stresses strict oversight amid corruption issues
2 mins
September 26, 2025
The Philippine Star
Flood tagging
lhe saga continues with more exposés on flood control fi-ascos that even Department of Public Works and Highways Secretary Vince Dizon can’thelp but express his utter shock, grief and even the sense of wanting to quit, for lack of a better word, which is not surprising if any of us found ourselves in his shoes trying to figure out how to overhaul a rotten system of heinous acts against our people.
3 mins
September 26, 2025
The Philippine Star
ANZ: Growth to slow amid fiscal tightening
Philippine economic growth is projected to slow to 5.4 percent this year
2 mins
September 26, 2025
The Philippine Star
Phl to update double taxation deal with S’pore
The Department of Finance (DOF) announced that the Marcos administration has begun negotiations with the government of Singapore to update their five-decade-old double taxation agreement in line with modern economic demands.
1 min
September 26, 2025
The Philippine Star
Pampanga's resilient property market
Pampanga stands out as a property market in Central Luzon. Outside of Metro Manila, it has one of the largest residential and office stocks. It remains as one of the most preferred sites of outsourcing firms while major residential developers continue to landbank in the province.
3 mins
September 26, 2025
Listen
Translate
Change font size