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,...
Senator Risa Hontiveros on Monday, September 2 called for the strict implementation of the newly-enacted Anti-Financial Account Scamming Act (AFASA) law. Hontiveros made the call following the reported rescue of nearly 100 Indonesian nationals during a recent raid done by law enforcement...
House Speaker Martin Romualdez (Speaker’s office) If harsh penalties can deter people from committing certain crimes, then the newly-enacted Anti-Financial Accounts Scamming Act (AFASA) delivers such punishment in spades. House Speaker...
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...
Senate President Francis “Chiz” Escudero (Senate PRIB) Senate President Francis “Chiz” Escudero welcomed on Saturday, July 20 the enactment of two critical and timely measures aimed at enhancing government transparency and protecting...
President Ferdinand "Bongbong" Marcos Jr. (left,) House Speaker Martin Romualdez (Speaker’s office) House Speaker Martin Romualdez has hailed the enactment of a landmark measure designed to combat economic fraud and protect citizens from financial...
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...
