The Bangko Sentral ng Pilipinas (BSP) has signed an agreement with the Department of Justice (DoJ) to exchange information in support of stronger oversight and investigations into financial crimes.

Under the agreement, the DoJ is authorized to request and receive financial account information from the BSP Consumer Account Protection Office (CAPO) for investigations and prosecutions covered by the Anti-Financial Account Scamming Act (AFASA) and BSP Circular No. 1214.

“Financial accounts scams, as you all know, inflict damage that extends well beyond monetary loss. They undermine confidence in our financial system, exploit the trust of consumers, and leave countless individuals and families bearing the consequences of sophisticated criminal activity,” BSP General Counsel Roberto L. Figueroa said during the signing ceremony at the BSP Head Office in Manila on Wednesday.

“As financial services become increasingly digital and transactions occur with an unprecedented speed, the institutions tasked with safeguarding the public must likewise be capable of responding with speed, precision, and close coordination,” he said.

Mr. Figueroa said the agreement would help the BSP fulfill its mandate to maintain a stable and efficient financial system while strengthening its ability to protect financial consumers.

“Timely, relevant, and lawfully shared information strengthens the ability of prosecutors to assess evidence, build cases, and pursue accountability against those who exploit financial systems for financial gain,” he added. “AFASA makes this collaboration not only possible but necessary.”

The central bank said the sharing of AFASA-related information with the DoJ is expected to accelerate government action against online scams and other forms of financial fraud.

“For Filipinos, this means quicker action against online scams. Competent authorities will be able to trace and identify individuals behind suspicious transactions faster and help prevent further losses due to fraud,” the BSP said in a statement.

The agreement was signed by Mr. Figueroa, BSP CAPO Director Alain Bert G. Regis, Justice Undersecretary Nicholas Felix L. Ty, and Justice Assistant Secretary Michelle Anne S. Lapuz.

The DoJ is the fourth government agency to enter into an information-sharing agreement with the BSP for AFASA-related cases, extending the central bank’s coordination with agencies involved in investigation, enforcement, and market oversight.

The BSP first signed similar agreements with the National Bureau of Investigation, the Cybercrime Investigation and Coordinating Center, and the Securities and Exchange Commission in February, more than half a year after AFASA took effect in June 2025.

Mr. Regis said last month that the central bank is also preparing to sign an information-sharing agreement with the Philippine National Police. — Katherine K. Chan