The Cybercrime Investigation and Coordinating Center (CICC) and the Bangko Sentral ng Pilipinas (BSP) are strengthening coordination to enhance digital financial security and curb the growing number of scam-related cases in the country.
The initiative follows findings from the CICC’s Cybercrime Complaint Center (C3) 2025 Annual Report, which showed that consumer fraud accounted for 35% of the total 18,633 complaints, equivalent to about 6,453 reports. Online fraud accounted for 4,243 reports, or 23%.
“These figures underscore a critical need for tighter regulation and more proactive monitoring within the financial sector,” the CICC said in a media advisory.
Both agencies are working toward implementing automated, real-time monitoring and detection systems designed to identify suspicious financial transactions.
The CICC is reinforcing cyber defense efforts through the Anti-Financial Account Scamming Act (AFASA), or Republic Act No. 12010, which requires financial institutions to implement stronger systems to detect and prevent digital fraud.
Under AFASA, the BSP has expanded authority to investigate financial accounts linked to scams and coordinate with the CICC to enable faster and more unified responses to cybercrime incidents.
The CICC urged the public to remain vigilant and immediately report suspicious financial activity or online lending harassment through the CICC Hotline 1326.
