BSP entered into a formal information‑sharing agreement with the Department of Justice to strengthen oversight and investigations of financial crimes.
The pact authorizes the Justice Department to request and obtain financial account data from the BSP Consumer Account Protection Office under the Anti‑Financial Account Scamming Act and BSP Circular No. 1214.
General Counsel Roberto L. Figueroa highlighted that financial account scams cause damage beyond monetary loss, eroding public confidence and exploiting consumer trust.
He stressed that as financial services become more digital and transactions accelerate, institutions must respond with speed, precision, and close coordination.
The agreement supports BSP’s mandate to maintain a stable and efficient financial system while safeguarding consumers against fraud.
Figueroa added that timely, relevant, and legally shared information enhances prosecutors’ ability to assess evidence, build cases, and hold perpetrators accountable.
The central bank noted that sharing AFASA‑related data with the Justice Department will accelerate responses to online scams and other financial fraud.
For citizens, this means authorities can trace and identify individuals behind suspicious transactions more quickly, helping to prevent further losses.
Signatories included BSP General Counsel Roberto L. Figueroa, CAPO Director Alain Bert G. Regis, Justice Undersecretary Nicholas Felix L. Ty, and Assistant Secretary Michelle Anne S. Lapuz.
The DoJ is the fourth agency with which BSP has entered an information‑sharing agreement for AFASA cases, following earlier pacts with the National Bureau of Investigation, the Cybercrime Investigation and Coordinating Center, and the Securities and Exchange Commission.
Additional agreements are planned with the Philippine National Police, and the AFASA took effect in June 2025.
