Banks and fintech firms may have sophisticated fraud controls, but scammers still hold one crucial advantage: they can move across the financial system while institutions often see only their own piece of the puzzle.

That blind spot is becoming a major concern as fraud schemes grow more connected, automated and difficult to detect.

Industry leaders are now pushing for broader intelligence sharing among banks, fintech companies and government agencies in an effort to spot suspicious activity earlier and prevent scams from spreading across multiple platforms.

One of the key initiatives is the Fraud Intelligence Data Sharing Network, or FIDS, which allows participating institutions to exchange fraud intelligence and gain a wider view of emerging threats.

The network includes public and private sector partners such as BDO, RCBC, GoTyme, SB Finance and the Cybercrime Investigation and Coordinating Center.

The urgency behind the initiative was highlighted at CIBI Impact 2026, where regulators and financial industry executives warned that fraudsters are increasingly exploiting the gaps between institutions.

“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.

“This is the gap, therefore, that we need to close.”

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