PH central bank inks pact to share financial data in scam probes

It has safeguards to ensure that the info shared is only used for authorized purposes, the BSP said.

The Bangko Sentral ng Pilipinas (BSP) has signed an information sharing agreement with the Philippines’ Department of Justice to improve investigation of financial accounts tied to scams.

The agreement establishes the procedures for the DOJ to request and receive financial account information from the BSP for scams and related offenses under the Anti-Financial Account Scamming Act.

It also sets out safeguards to ensure that the shared information is only used for authorized purposes and that the data is protected in accordance with the law, the central bank said in an announcement on 23 July 2026.

Earlier this month, the BSP signed a memorandum of agreement with the Securities and Exchange Commission (SEC) and the Philippine Statistics Authority (PSA) to address gaps in foreign direct investment (FDI) data.

Separately, the BSP noted the potential application of wholesale central bank digital currency (CBDC) for settlement of financial securities and large-value cross-border payments.