Manila, Philippines — 2025 — As cyberattacks against Philippine financial institutions surge—costing the industry an estimated ₱5.82 billion in 2024, according to the Bangko Sentral ng Pilipinas (BSP)—the call for collaboration across the sector has never been louder.
Fraud tactics such as identity theft and deepfakes are evolving rapidly, exposing the vulnerabilities of a fragmented system where institutions operate in silos. “Fraud is no longer a challenge we can face in silos,” said Edith Roberto, Head of Individual Credit Solutions and Partnerships at CIBI. “We must shift to a proactive, collaborative approach through data sharing, to prevent scammers from exploiting the gaps in a fragmented system.”
To address this, CIBI has launched the CIBI Fraud Bureau, a shared data platform designed to enable collective fraud detection and prevention across traditional banks, fintechs, and other industries such as telecommunications. The system allows participating institutions to contribute and access a shared database of confirmed and suspected fraudsters, flagging potential scammers before transactions are completed.
“Fraud prevention strategies have to change from reaction to prevention,” added Pia Arellano, CIBI President and CEO. “Fraud will continue to evolve, but our defense must evolve faster.”
Built on data reciprocity, the Fraud Bureau ensures that institutions sharing data also benefit from the collective intelligence of the network. All processes adhere to strict data privacy regulations, ensuring compliance and security.
By fostering collaboration between private and public players, the CIBI Fraud Bureau supports the BSP’s mission to strengthen cybersecurity and financial integrity—transforming fraud prevention into a unified, real-time defense across the industry.
