A fraud network backed by Philippine banks, lenders, and government partners aims to help financial institutions spot scams that move across accounts and platforms.
The Fraud Intelligence Data Sharing (FIDS) Network allows participating institutions to share information on emerging threats. Its partners include BDO, RCBC, GoTyme, SB Finance, and the Cybercrime Investigation and Coordinating Center (CICC).
The business problem is that a bank may see a suspicious transaction in its own system without seeing related activity elsewhere. That gap can make a larger scam harder to detect before more money moves.
“The fraudster or the scammer can see the complete picture, but the institutions involved in this scam or fraud cannot,” said Atty. Roberto Figueroa, general counsel of the Bangko Sentral ng Pilipinas. “This is the gap, therefore, that we need to close.”
The need for closer coordination was discussed at CIBI Impact 2026 as financial institutions face scams involving stolen identities, fake messages, deepfakes, and accounts used to move illicit funds.
According to a white paper by IDfy cited in the press material, fraud affected 34% of Filipinos in 2025. The material also estimates that digital fraud costs corporations up to ₱4 trillion a year, though it does not explain how that figure was calculated.
Sharing fraud intelligence could help institutions connect activity that looks ordinary when viewed one transaction at a time. It could also help them act sooner when the same people, accounts, or methods appear across multiple services.
“No institution can see an entire fraud pattern on its own,” Figueroa said. “But through trusted data, coordinated verification, timely intelligence, and sound legal safeguards, we can make the system more capable of detecting fraud early and preventing it from moving further.”
Financial firms are also investing in tools to study customer behavior. GBG’s 2026 Fraud Survey found that 73% of Asia-Pacific financial institutions use behavioral analytics to manage fraud risk, while 64% have adopted platforms that bring fraud information together.
“We can no longer assume that an identity, an account, or credentials is trustworthy because it appears legitimate,” said Pia Arellano, president and CEO of CIBI Information Inc. “The question for institutions is whether they can verify, understand, and see beyond their own line of sight.”
For customers and businesses, the value of the FIDS Network will depend on whether shared information helps participants flag connected scams quickly while protecting the data they exchange.