CIBI President and CEO Maria Gracia Arellano pointed out in the white paper that while the Philippines achieved its “digital decade” goals ahead of schedule, “hyper-acceleration without systemic friction always exacts a hidden tax.”
Arellano emphasized that the country is no longer fighting localized,isolated scammers. Instead it is now up against “industrial-scale Trans-National syndicates operating out of air-conditioned compounds.”
“They are weaponizing biological identities. By farming, renting, and synthetically altering legitimate bank and e-wallet credentials for as little as P500, they have turned the everyday accounts of our citizens into highly effective laundering nodes,” she said.
Read more at the Business Mirror
