The Philippine Securities and Exchange Commission convened the second Anti-Scam and Illegal Taking of Investments Group (ASTIG) Partners Meeting to strengthen coordination with public and private sector counterparts against financial scams and other unauthorized investment-taking activities. The meeting brought together 21 representatives, including the Anti-Money Laundering Council, the Bangko Sentral ng Pilipinas (BSP), the National Bureau of Investigation, the Department of the Interior and Local Government, and the Department of Education. A session led by the BSP’s acting director for Consumer Account Protection walked through Republic Act No. 12010, the Anti-Financial Account Scamming Act (AFASA), and its implementing rules and regulations, including prohibited acts such as money muling, social engineering schemes and economic sabotage, as well as the role of financial institutions in temporarily holding funds and the BSP’s authority to investigate financial accounts. The SEC also introduced an “ASTIG One-Pager” to help the public identify and report suspected scams, and urged partner agencies to disseminate it through local offices and community networks.
Philippine Securities and Exchange Commission 2025-07-18
Philippine Securities and Exchange Commission convenes second ASTIG partners meeting to coordinate anti-scam enforcement and AFASA implementation
The Philippine SEC held the second Anti-Scam and Illegal Taking of Investments Group (ASTIG) Partners Meeting to enhance collaboration against financial scams. The meeting included 21 representatives from various agencies, discussing the Anti-Financial Account Scamming Act and its regulations. The SEC introduced an "ASTIG One-Pager" to aid public identification and reporting of scams, urging dissemination through partner networks.