In response to the surge in cybercrime cases—tripling to 10,004 incidents in 2024, as reported by the Cybercrime Investigation and Coordinating Center (CICC)—CIBI Information Inc. launched the Fraud Bureau, a data-driven collaboration platform aimed at fortifying fraud defenses across the Philippine financial ecosystem.
The Fraud Bureau enables banks, fintechs, and other financial institutions to securely share intelligence on fraudulent activity, including blacklist data and application anomalies. This initiative is designed to accelerate fraud detection, improve response times, and foster greater industry-wide transparency.
“The significant increase in fraudulent activity highlights the urgent need for coordinated action,” said Pia Arellano, president and CEO of CIBI. “By collectively combating fraud, we not only protect consumers but also build confidence in digital financial services—enabling broader adoption, financial inclusion, and long-term resilience in the country’s evolving fintech landscape.”
CIBI, the country’s pioneering credit bureau, is spearheading the initiative as part of its broader mission to promote responsible fintech innovation and advance financial inclusion through reliable, shared data insights. The Fraud Bureau is positioned as a critical tool in strengthening institutional trust and mitigating systemic risk.
Financial institutions are invited to join the Bureau and become part of a shared defense network that leverages real-time alerts and collaborative data to prevent fraudulent transactions. Participation offers firms the opportunity to enhance operational security, protect their customers, and contribute to a safer financial system.
