NAB and CBA exposed over PNG money laundering

Bank of South Pacific CEO Robin Fleming is believed to be under pressure from the regulator to step down.
Angus Grigg National affairs correspondent The largest lender in the Pacific, BSP Financial Group, has been ordered to remove senior managers following breaches of anti-money laundering laws in Papua New Guinea, putting further pressure on Commonwealth Bank of Australia and National Australia Bank to cut ties with the troubled institution. BSP,... more →
Posted in: Papua New Guinea

Media Release: BSP Reduces Equity on SME Credit Enhancement Scheme Loan

MEDIA RELEASE | WEDNESDAY 12th MAY, 2021 BSP PNG | Owners of Small to Medium Enterprises in Papua New Guinea can now access the National Government supported loan facility – SME Credit Enhancement Scheme Loan at the BSP Financial Group Limited (BSP) with a lower equity requirement and higher maximum loan amount effective immediately. BSP... more →
Posted in: Papua New Guinea

BSP: Cryptocurrency risky

BSP chief executive officer Robin Fleming.
The National Business, By DALE LUMA BANK South Pacific (BSP) does not accept cryptocurrency transactions, says group chief executive officer Robin Fleming. Responding to queries from The National, Fleming highlighted that cryptocurrencies posed some risks which included: LACK of consumer protection. While traditional financial products... more →
Posted in: Papua New Guinea