Tag page - Anti Financial Account Scamming Act (AFASA)

Senator Mark Villar on Friday, July 24, welcomed the early gains of the Anti-Financial Account Scamming Act (AFASA), saying the law is now delivering concrete results in the country 's campaign against online financial crimes. Citing data from the Bangko Sentral ng Pilipinas (BSP), Villar...

Victims of certain unauthorized digital transactions in the country could soon see their money returned, as banks and e-wallet providers face new potential obligations to reimburse account holders following the expiration of the fraud-prevention deadlines. One year since the Anti-Financial Account...

Consumer complaints filed with the Bangko Sentral ng Pilipinas (BSP) surged by 62.3 percent in 2024 to around 70,000 cases, according to officials of the central bank. Of the total number of consumer complaints, 13 percent were categorized as unauthorized transactions, Charina B. De Vera-Yap,...

Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said Saturday, July 20, that the passage of Republic Act No. 12010 or the Anti-Financial Account Scamming Act (AFASA) will give the central bank more teeth in protecting financial consumers. AFASA is a law that will curb and combat...

Senator Mark Villar, chairman of the Senate Committee on Banks, Financial Institutions and Currencies, pushed for the passage of the proposed Anti-Financial Account Scamming Act (AFASA) to ensure that no scammers will be able to defraud Filipino banking consumers in the long run.   Sen. Mark...