From Deal Book/New York Times By Peter Eavis March 12, 2014 Money laundering, market rigging, tax dodging,
Circular No. 657 (valid identification cards for financial transactions)
(enacted in 2009)
Circular No. 657, issued by the Bangko Sentral ng Pilipinas (BSP), amends Circular No. 564 and Circular No. 608. It adds passports issued by foreign governments to the list of acceptable identification cards necessary to engage in covered financial transactions in the Philippines.