MANILA, Philippines— The Bangko Sentral ng Pilipinas (BSP) has urged automated teller machine (ATM) cardholders to reject 'sangla-ATM' schemes that demand ATM cards and personal identification numbers (PINs) as collateral for loans. 'This scheme may lead to financial troubles for cardholders as it may be difficult for them to monitor withdrawals made by people to whom the ATM card and PIN were given. Creditors may also withdraw amounts higher than the cardholders' debt,' said BSP in a Saturday advisory.

https://newsinfo.inquirer.net/1771959/bsp-warns-against-sangla-atm-schemes

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