As financial fraud becomes increasingly interconnected, financial institutions are turning to shared intelligence and coordinated verification to strengthen fraud detection and prevention.
One initiative gaining attention is the Fraud Intelligence Data Sharing (FIDS) Network, which brings together financial institutions and other stakeholders to share fraud intelligence and provide greater visibility into emerging threats. The network is supported by public and private sector partners including BDO, RCBC, GoTyme, SB Finance, and the Cybercrime Investigation and Coordinating Center (CICC).
The need for greater coordination was highlighted during CIBI Impact 2026, where industry leaders discussed how financial institutions can address information gaps as fraud becomes more sophisticated and interconnected.
“The fraudster or the scammer can see the complete picture, but the institutions involved in this scam or fraud cannot,” said Atty. Roberto L. Figueroa, General Counsel of the Bangko Sentral ng Pilipinas, emphasizing the need to close the visibility gap between institutions.
Technology is adding another layer of complexity. Deepfakes, phishing, identity theft, and mule accounts are giving fraudsters new ways to impersonate individuals, bypass controls, and scale attacks. According to an IDfy whitepaper, fraud affected 34% of Filipinos in 2025, while digital fraud is estimated to cost corporations as much as ₱4 trillion annually.
While individual institutions may have strong internal safeguards, limited visibility across accounts, platforms, and organizations can make wider fraud patterns difficult to detect.
Connecting Intelligence Across The Ecosystem
Pia Arellano, President and CEO of CIBI Information Inc., said organizations can no longer assume that an identity, account, or credential is trustworthy simply because it appears legitimate. Instead, institutions need to verify identities, understand behavior, and recognize patterns beyond their own systems.
The role of technology is also growing. GBG’s 2026 Fraud Survey found that 73% of APAC financial institutions are using behavioural analytics for fraud risk management, while only 64% have adopted unified fraud platforms.
As financial services become more interconnected, initiatives such as the FIDS Network highlight the importance of collaboration in identifying threats that cross institutional boundaries.
“Fraudsters do not operate within the boundaries of one bank, one fintech or one platform,” Arellano said. “If the threat is connected, then our defences need to be connected, too.”
