The Bangko Sentral ng Pilipinas (BSP) and the Department of Justice (DOJ) have signed an information-sharing agreement that aims to speed up investigations and prosecutions involving online financial scams under the Anti-Financial Account Scamming Act (AFASA).
The agreement gives the DOJ a faster way to request and receive financial account information from the BSP’s Consumer Account Protection Office. It follows the rules under an AFASA and BSP Circular while requiring that shared information be used only for authorized investigations and protected under existing laws.
Financial scams continue to affect many Filipinos, particularly through fake investment schemes, phishing attacks, and unauthorized online banking transactions. By allowing government agencies to exchange information more efficiently, authorities hope to shorten investigation time, improve prosecution, and make it harder for scammers to move stolen funds through the financial system.
The partnership is expected to help authorities identify people behind suspicious financial transactions more quickly, making it easier to stop scam operations and prevent more Filipinos from losing money to fraud.
Representing BSP Governor Eli Remolona Jr., BSP General Counsel Roberto Figueroa signed the agreement with DOJ Undersecretary Nicholas Felix Ty at the BSP Head Office in Manila on July 22, 2026.
“Stronger institutional collaboration enhances our collective ability to identify organized actors who exploit the financial system, disrupt their operations, and hold them accountable under the law,” said Figueroa.
BSP Deputy Governor Elmore Capule, adviser to the AFASA Technical Working Group, said the agreement “sends a very strong message that the government is fighting as one to protect the Filipino public.”
The agreement builds on the BSP’s broader effort to strengthen the country’s fight against financial fraud. In February 2026, the central bank signed similar information-sharing agreements with the National Bureau of Investigation, the Cybercrime Investigation and Coordinating Center, and the Securities and Exchange Commission.