BSP Exec Cites Need for Collaborative Efforts Against Financial Fraud
Taguig City: A central bank official on Tuesday emphasized that financial fraud, particularly in the digital age, is not solely the responsibility of the Bangko Sentral ng Pilipinas (BSP) but a shared responsibility among stakeholders. BSP Deputy Governor Chuchi Fonacier highlighted this during the 2nd Quarter Digital Industry Caucus held in Taguig City. According to Philippines News Agency, Fonacier stated that combating financial fraud requires a holistic approach. She referenced Republic Act (RA) 12010, known as the Anti-Financial Account Scamming Act (AFASA), and BSP Circular Nos. 1213, 1214, and 1215, which outline measures to tackle scamming and related issues. Fonacier