CICS MC 3668

July 23, 2021

TO : All Clearing Banks/Institutions

R E : SURVEY RESULTS ON UTILIZATION OF CHECK INVENTORY SYSTEM (CIS) AND/OR PAID-CHECK DATABASE (PCD)

1. Relative to Memo Circular No. 3656 dated May 26, 2021, we wish to inform you the results of Subject

Survey, to wit:

Number of Banks System/s In Place Percentage

Surveyed to Total

52 CIS and PCD 62.66

5 CIS only 6.02

4 PCD only 4.82

9 No CIS/ No PCD; with own

duplication-detection system 10.84

13 Unknown - no response yet 15.66

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Total - 83 100.00

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2. To recall, we conducted this survey primarily to determine the extent of the Clearing Participants’

utilization of check-duplicate detection tools in line with PCHC’s appeal in its Memo Circular No. 3514

dated 19 February 2019 enjoining banks to enhance their risk management systems on check payments.

3. As Check payments through CICS are essentially based on trust amongst the Clearing Participants, it is

essential for each participant to build necessary layers of control to mitigate attempts to defraud the

banks’ clearing system.

4. PCHC shall again conduct another survey after 6 months and hopefully by then, everyone shall have

already a CIS or PCD built in place.

5. We look forward to everyone’s cooperation.

MC.3668

.Survey Results on Utilitzation Check Inventory System (CIS) and_or Paid-Check Data

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