BSP finalizing info-sharing deal with PNP, DoJ

THE Bangko Sentral ng Pilipinas (BSP) is now finalizing its information-sharing agreement with the Philippine National Police (PNP) and the Department of Justice (DoJ) in a bid to sharpen the teeth of the anti-financial scam law.

“So, currently, our ISA (information-sharing agreement) with the DoJ and the PNP are in the process of finalization,” Alain Bert G. Regis, director of the BSP’s Consumer Protection Account Office (CAPO), told a House committee hearing on Wednesday.

Meanwhile, Mr. Regis said they are still evaluating a similar deal with the Anti-Money Laundering Council as they have an existing memorandum of agreement.

He added that they are hoping the agreements will be finalized by next month.

The CAPO director noted that they first tapped relevant government agencies in July last year, a month after the Anti-Financial Account Scamming Act (AFASA) or Republic Act No. 12010 took effect on June 25.

As of date, the BSP has information-sharing agreements with the National Bureau of Investigation, the Cybercrime Investigation and Coordinating Center (CICC), and the Securities and Exchange Commission for AFASA-related cases.

Since the deals were inked in February, the central bank has so far received five financial fraud cases from the CICC, according to Mr. Regis. — Katherine K. Chan