BPI confident of full AFASA compliance

Ayala-led Bank of the Philippine Islands (BPI) is confident of meeting the Bangko Sentral ng Pilipinas (BSP)’s deadline for compliance with the Anti-Financial Account Scamming Act (AFASA), even as the entire banking industry continues to align its systems and processes with the new anti-fraud framework.

- By KEISHA TA-ASAN

Jon Paz, enterprise information security officer and data protection officer at BPI, said the bank is “by and large already compliant” with the BSP’s requirements under AFASA, although there are still areas being finalized in coordination with other banks.

“We are confident that we will be fully compliant when day one comes,” Paz said, noting that full implementation is expected by the first half of next year.

According to Paz, the BSP has given banks until the second quarter of 2026 to comply fully with AFASA requirements.

“We're confident that we'll be able to comply,” he said. “All things being equal, we are confident that we will meet it.”