The reform is part of the implementation of the Anti-Financial Account Scamming Act (AFASA), which aims to combat phishing, SIM-swap attacks, and other forms of digital financial fraud. Under the proposed regulations, banks will be required to adopt stronger authentication methods, particularly for high-value online transactions and sensitive account changes. Read more in our articles including "BSP sets June 30 deadline for banks to move beyond SMS OTPs" and "Samsung announces Galaxy Card".
Bangko Sentral ng Pilipinas has set June 30, 2026 as the deadline for banks to…
Mar 10, 2026
Samsung Electronics has announced the Samsung Galaxy Card. The Samsung Galaxy Card is the company’s…
Jul 21, 2026
Asia United Bank (AUB) will waive InstaPay and PESONet transfer fees for local fund transfers…
Jul 17, 2026
Commuters on the LRT-2 can now pay their fares using contactless payment methods after RCBC,…
Jul 14, 2026
UnionBank has removed transaction fees for person-to-person fund transfers made through InstaPay, with the new…
Jul 7, 2026
The Land Bank of the Philippines (LandBank) will stop charging fees for InstaPay and PESONet…
Jul 6, 2026The reform is part of the implementation of the Anti-Financial Account Scamming Act (AFASA), which aims to combat phishing, SIM-swap attacks, and other forms of digital financial fraud. Under the proposed regulations, banks will be required to adopt stronger authentication methods, particularly for high-value online transactions and sensitive account changes.
Our coverage of Anti-Financial Account Scamming Act includes: "BSP sets June 30 deadline for banks to move beyond SMS OTPs"; "Samsung announces Galaxy Card"; "AUB to offer FREE InstaPay, PESONet bank transfers starting July 20". Each article provides unique insights and information.