The Bangko Sentral ng Pilipinas (BSP) and the Department of Justice (DOJ) have strengthened the government’s fight against financial fraud by signing an Information-Sharing Agreement aimed at speeding up the investigation and prosecution of financial account scams under the Anti-Financial Account Scamming Act (AFASA).
The agreement is expected to help authorities more quickly identify, track, and prosecute individuals and groups behind online scams and fraudulent financial transactions—offering stronger protection for Filipino consumers.
The signing ceremony was held on July 22, 2026, at the BSP Head Office in Manila. BSP General Counsel Roberto L. Figueroa, representing BSP Governor Eli M. Remolona, Jr., signed the agreement with DOJ Undersecretary Nicholas Felix L. Ty.
Under the partnership, the DOJ will be able to request and receive relevant financial account information from the BSP’s Consumer Account Protection Office in accordance with AFASA and BSP Circular No. 1214. The agreement also outlines strict safeguards to ensure that shared information is used only for authorized investigations and remains protected under existing laws.
“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,” Figueroa said.
BSP Deputy Governor Elmore O. Capule, who serves as adviser to the AFASA Technical Working Group, emphasized the significance of the agreement in the government’s broader anti-scam campaign.
“This sends a very strong message that the government is fighting as one to protect the Filipino public,” Capule said.
The agreement is expected to translate into faster government action against financial scams, particularly those involving digital payment platforms, bank accounts, and other financial instruments commonly exploited by fraudsters. By streamlining information-sharing procedures, authorities can more quickly trace suspicious transactions, identify perpetrators, and prevent additional victims from falling prey to scams.
The BSP has been ramping up interagency cooperation since the enactment of AFASA, a landmark law designed to combat the growing threat of financial account scams in the country. The law empowers authorities to investigate fraudulent financial activities more effectively while providing mechanisms to safeguard consumers.
The DOJ partnership is the latest in a series of agreements forged by the BSP to strengthen the country’s anti-scam framework. 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.
With the latest collaboration, the BSP and DOJ are reinforcing the government’s commitment to staying ahead of increasingly sophisticated financial scams and ensuring that perpetrators are swiftly brought to justice.