Philippine central bank joins regional task force to fight financial scams

Junior monetary officials will receive a newly endorsed training programme.

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. and his Asia-Pacific counterparts have agreed to strengthen cooperation on scam prevention and the risks and opportunities of artificial intelligence facing the region's financial systems.

The agreement came at the Executives' Meeting of East Asia Pacific Central Banks (EMEAP) in Singapore on 23 July 2026. 

Governors approved the creation of a task force to share information between central banks and improve scam detection, alongside efforts to help the financial industry manage AI risks. 

They also endorsed a new training programme for junior central bankers.

Remolona stressed the importance of regional cooperation amid challenges facing financial systems and economies globally.

At a separate meeting the following day, the 15th Informal Meeting of the EMEAP governors and heads of Supervisory

Authorities, participants shared insights on responsible AI adoption and discussed the macro-financial implications of regional supply disruptions.

EMEAP is a cooperative forum of 11 central banks and monetary authorities in East Asia and the Pacific.