Category: Business Mirror

Art has always had the power to inspire, connect and transform lives. This July, it is doing even more by giving back to the community as the 9th Coloring Lives Exhibit officially opens at SM Podium, uniting artists of all ages and skill levels in support of Nazareth Bahay ng Pag-ibig, a home for abandoned elderly women.

Organized by Sunshine Place Senior Recreation Center, the annual exhibit showcases an inspiring collection of works across various artistic disciplines, including watercolor, porcelain painting, ikebana, decoupage, and artworks from kids, beginners, intermediate, and advanced art classes. Each piece reflects the belief that creativity has no limits in its ability to make a meaningful difference. Proceeds from every artwork sold will benefit Nazareth Bahay ng Pag-ibig, helping provide shelter, care, and dignity to its residents.

The exhibit is one of the highlights of SM Supermalls’ Art For Everyone, one of the country’s largest and most far-reaching mall-based art initiatives, bringing Filipino creativity to more communities than ever before. This year, the nationwide campaign spans 26 SM malls, transforming spaces into vibrant art destinations and giving thousands of established and emerging Filipino artists an opportunity to reach wider audiences across the country. By making art more accessible for millions of mallgoers, Art For Everyone continues to champion inclusivity, creativity, and meaningful community engagement on an unprecedented scale.

‘Collaborations like the 9th Coloring Lives Exhibit demonstrate how art can become a force for positive change,’ said Joaquin San Agustin, Executive Vice President for Marketing, SM Supermalls. ‘Through our nationwide Art For Everyone campaign, SM Supermalls continues to make art more accessible while creating spaces where creativity, compassion, and community come together. Together with Sunshine Place, we hope this exhibit leaves a meaningful and lasting impact on the women of Nazareth Bahay ng Pag-ibig and inspires more people to discover how every artwork can help transform lives.’

Now in its 9th edition, Coloring Lives continues to demonstrate how art can bring communities together for a greater purpose. Beyond showcasing remarkable talent, the exhibit reminds visitors that every brushstroke, every masterpiece, and every purchase contributes to changing lives.

Experience the 9th Coloring Lives Exhibit at Atrium, Level 2, SM Podium from July 21 to 26, 2026. Visitors can explore an inspiring collection of artwork while supporting a meaningful cause. Whether purchasing a statement piece or a small artwork, every contribution helps color a life with hope.

For more information about the exhibit or other immersive experiences at your most loved mall, SM, check out @thepodiummall on social media.

When one mentions Kobe, the first that comes to mind is Wagyu beef (its marbled fat, melted during cooking, produces a soft texture and succulent flavor) and the namesake of the late basketball legend.

Kobe’s reputation, however, extends far beyond the prized Wagyu cattle that put the city on the global map. Kobe offers the pleasures of Japan in miniature, with maritime promenades, hillside greenery, memorable meals, and a sense of calm that makes it less crowded than many major tourist destinations. For curious travelers who want something familiar but different, this vibrant port city, nestled between the mountains and the sea, rewards slow walking, experimental dining, and quick escapes into nature, all in one easy city package.

A visit to its scenic waterfront area, notably in Meriken Park (the park’s name was derived from the word ‘American,’ which was commonly translated as ‘Meriken’ during the Meiji era), is a must. Built on an outcropping of reclaimed land, this waterfront park, a popular spot for locals and tourists, is covered in grassy lawn and open courtyards and is dotted with a collection of modern art installations and structures including the Bell of Hortensia (a colorful, modern mosaic sculpture representing Kobe’s official flower), the Kobe Maritime Museum (featuring a roof design similar to a sailing ship, it focuses on the history of Japanese shipping and Kobe Harbor), the 108-meter (354-foot) high Kobe Port Tower, a unique, red-painted steel structure designed to look like a tsuzumi, a Japanese drum), and the famous Kobe Port Emigrants Memorial Statue (honors the thousands of Japanese citizens who emigrated from Kobe Port, for new lives abroad, particularly to Brazil, in the early 20th century).

Another scenic oceanside city park is the 7.8-hectare Hyogo Prefectural Maiko Park (see main photo), the gateway for the 3,911-meter-long Akashi-Kaikyo Bridge, the world’s largest suspension bridge, which also boasts the world’s longest central span at 1,991 meters. Aside from sea and bridge views, there are also plenty of things to do and see at the park such as large grassy areas, a 1,500-pine forest; the Akashi Kaikyo Bridge Exhibition Center (displays showing the history of what is the world’s longest suspension bridge) and historic houses such as the former residence of Sanji Muto (a Western-style seaside cottage built in 1907), the iconic Sun Yat-Sen Memorial Hall (Ijokaku), built in 1915 by Wu Jintang; and the former Japanese residence of the Kinoshita Family, an early modern Japanese home built in 1941 in the tea ceremony arbor (sukiyazukuri) style.

Another must-see in Kobe is the wonderful, ancient and serene Ikuta Shrine (Ikuta-jinja), a major Shinto shrine believed to be one of the oldest in Japan. Dotted around the spacious grounds of Ikuta Jinja are 14 sub-shrines, each dedicated to a different god; impressive buildings, a striking, continuous series of 22 vermilion-lacquered torii gates, and, at its rear, you can find a remnant of the ancient forest that once covered the entire area. The shrine is also famous as a ‘power spot’ dedicated to matchmaking, love, relationships, and good fortune. At Kinryusen, a popular spot in the forest, you can have your fortune read by water.

Near the park is the lively and vibrant Higashimon (‘east gate’) Street, so called because the area surrounds the east gate of Ikuta Shrine. This area is known for its array of restaurants (where you can indulge in high-quality, melt-in-your-mouth Wagyu beef), izakayas (informal Japanese pubs) and hidden bars that open mainly at night.

For a different kind of green escape, try the Nunobiki Herb Garden, a big 40-acre botanical herb garden (Japan’s largest), built in 1991, with themed areas growing over 75,000 herbs (200 varieties) and flowers blooming year-round. The 10-min. long scenic cable car ride to Nunobiki Herb Garden features sweeping panoramic views of the Kobe city skyline, the 43-meter tall Nunobiki Falls, the surrounding 931-meter high Rokko Mountain Range, the Seto Inland Sea, and previews of the gardens below.

The gorgeous Welcome Garden (View Plaza) is surrounded by a castle gate and the View Rest House, which is modeled after the ancient Wartburg Castle in Eisenach, Germany. It has a large gift shop (offering herbal products, essential oils, herb-themed everyday utility items and souvenirs) and a dining option (The Herb Dining) plus access to sweeping outdoor terraces where you can enjoy your meals. There were a few stalls selling burgers, tarts, drinks and soft serve ice cream.

Nearby is the Mori no Hall, a small, wooden concert hall with great acoustics and a popular venue for concerts and recitals. At its Fragrance Museum, the historical aspects of fragrance are displayed and explained. Here, you can experience the scent of different natural essential oils.

Instead of taking the cable car all the way back to the Bottom Station, you can walk downhill from the summit, all the way to Kaze no Oka Mid Station, passing through twisting pathways and its 12 distinct, extensive, seasonally themed areas while enjoying aromatic and scenic views. The Glass House, along the way, features a spice museum, a herbal foot bath (behind the Glass House), café lounge, terraced restaurant (The Veranda, offering herb-infused treats), and tropical, fragrant, and citrus-themed plants, including a special, illuminated ‘rose garden.’

Washington’s announcement that it is slapping fresh tariffs on goods produced by forced labor added another layer to global economic uncertainties-fueling the demand for safe-haven dollar assets and dragging the Philippine peso to a new record low on Friday.

Data from the Bankers Association of the Philippines (BAP) showed the local currency closed at P61.847 against the greenback on Friday. This is 9.7 centavos weaker than its previous finish of P61.75 on Thursday.

Jonathan L. Ravelas, senior adviser at Reyes Tacandong and Co., said attributed this to ‘rising crude oil prices as US and Iranian attacks escalated and new tariffs, renewing inflation concerns.’

Asked about how the new tariffs announced by the United States government would fuel demand for the safe-haven currency, Ravelas told the BusinessMirror: ‘In simple terms, tariffs can strengthen the US dollar because they reduce demand for imported goods, which means fewer dollars are sent overseas.’

At the same time, he said, tariffs can push up inflation in the US, making the Federal Reserve more cautious about cutting interest rates.

‘Higher US interest rates relative to other countries tend to attract global capital into dollar assets, boosting demand for the US dollar,’ he added.

For his part, John Paolo R. Rivera, Senior Research Fellow at Philippine Institute for Development Studies (PIDS) said the peso’s drop to a new record low was largely driven by ‘external factors.’

‘Geopolitical tensions and trade policy uncertainties have also contributed to risk aversion, putting pressure on emerging market currencies, including the peso,’ Rivera told this newspaper on Friday.

Moving forward, the PIDS senior research fellow said the peso may remain under pressure in the near term as long as global uncertainties persist.

‘But I expect movements to remain broadly market-driven rather than disorderly,’ added Rivera.

Within the trading day, the peso traded from as strong as P61.78 to as weak as P61.85 per dollar.

According to the Office of the United States Trade Representative (USTR), Washington announced that failure to impose and effectively enforce a prohibition on the importation of goods produced with forced labor would warrant a 10 percent or 12.5 percent tariff on 60 trading partners, subject to ‘certain product exemptions.’

The USTR said the top 60 US trade partners cover 99.4 percent of US imports.

Foldable smartphones have come a long way in recent years. While users once questioned their durability and reliability, today’s innovations have transformed foldables into everyday productivity companions that are built to last.

Leading this evolution is the Oppo Find N6, a foldable smartphone engineered to withstand the demands of modern life without compromising on design, performance, or portability. Built around Oppo’s Armour Shield Architecture, the Find N6 combines aerospace-inspired engineering, industry-leading durability, and flagship innovations to prove that foldables can be just as dependable as they are sophisticated.

n Engineered to go further. At the heart of the Oppo Find N6 is its Armour Shield Architecture, an advanced structural design that reinforces the device using premium materials while maintaining an ultra-slim profile.

Despite its refined form factor and the industry’s thinnest bezels on a book-style foldable, the Oppo Find N6 is designed to withstand the realities of everyday use. Whether it’s navigating unpredictable weather, working outdoors, or simply enduring the wear and tear of daily commutes, the device delivers durability without sacrificing elegance.

Setting a new benchmark for foldable smartphones, the Oppo Find N6 carries IP56, IP58, and IP59 ratings, allowing it to withstand dust, water immersion, and even high-pressure, high-temperature water jets. From unexpected downpours to accidental spills and more demanding environments, users can stay productive with confidence knowing their device is built to handle more than everyday challenges.

n A foldable built for the long run. A foldable is only as reliable as its hinge, and Oppo has reimagined this critical component with the 2nd-Generation Titanium Flexion Hinge.

Manufactured using aerospace-grade titanium alloy, the hinge delivers greater strength while remaining remarkably lightweight. Together with Auto-Smoothing Flex Glass, it enables the industry’s first Zero-Feel Crease, creating a display that feels smooth and immersive whether you’re reviewing reports, reading documents, editing presentations, or watching videos.

The hinge is also certified to withstand one million folds, demonstrating the Find N6’s ability to support years of daily opening and closing without compromising performance. It’s an engineering milestone that reinforces the device’s position as one of the most dependable foldables available today.

The Oppo Find N6 is priced at ?139,999. Customers can also enjoy exclusive offers and freebies available for a limited time. Globe subscribers can avail of the Find N6 through GPlan 2499 with ?73,600 cashout, while Smart users can purchase the device under Smart Infinity Plan 5000, with exclusive benefits.

More information can be found at www.oppo.com/ph or Oppo Philippines’ official social media pages on Facebook, YouTube, and TikTok.

THE Philippines can be a regional leader in data sovereignty, but it must seize the opportunity swiftly and implement a decisive action to build its capabilities on data sovereignty.

‘Policy discussions around sovereignty are gaining momentum, and the recognition that digital control has become a strategic imperative reflects the right instincts,’ said Catherine Lian, general manager and technology leader of IBM Asean in an e-mail interview with BusinessMirror.

According to Lian, true digital sovereignty encompasses four interconnected pillars:

Data sovereignty: Control where data is stored and who can access it.

AI sovereignty: Operate AI under your organization’s authority and jurisdiction.

Operational sovereignty: Maintain control over strategic decisions while minimizing external influence while being accountable under regional jurisdictions who deliver transparency on data access, residency, and regulatory compliance.

Technology sovereignty: Retain choice and flexibility across all underlying infrastructure and technology.

Today, Lian said digital sovereignty is no longer just about where data resides. ‘It’s about whether we can prove who has access-do you have the freedom to move workloads, switch providers, even as technologies, regulations and risks evolve,’ she said.

The Philippines would benefit from a comprehensive approach that combines local infrastructure investment with hybrid-by-design cloud architectures, built-in AI governance frameworks, and talent development. IBM is committed to working with Philippine organizations and government institutions to ensure sovereignty becomes an operational reality that would drive sustainable digital independence and AI-driven growth.

In the era of artificial intelligence (AI), Lian said data sovereignty has become one of the most strategic decisions any nation can undertake. While digital infrastructure has become as critical to national security and economic growth as defense and finance, Lian said the Philippines prioritizes digital sovereignty quickly and robustly. ‘When critical systems run on platforms controlled elsewhere, organizations don’t truly have sovereignty, they have a service contract,’ she said.

At IBM, digital sovereignty is defined as the ability for organizations to demonstrate authority over and leverage technology on their own terms-maintaining control, transparency, and choice-while continuing to innovate at speed. ‘For the Philippines, this isn’t just about compliance. It’s about ensuring that technology and AI capabilities, talent, and economic opportunities benefit the country through trusted, locally governed systems that serve citizens and strengthen competitiveness,’ Lian said.

Gartner expects 65 percent of governments worldwide to introduce technological sovereignty requirements by 2028. Countries that act decisively now will have a first-mover advantage in attracting investment, protecting critical infrastructure, and innovating with AI in their own terms.

She said IBM believes that sovereignty must be intentional and engineered into technology from the start. Lian noted open ecosystems, hybrid by design deployment models (cloud, on prem, edge, fully air gapped), and built in AI governance give organizations the control and flexibility they need to innovate without dependence. Lian said the control and accountability model suits the Philippines because it addresses the core concern driving the country’s sovereignty push-not just where data resides but who controls it. Pure localization builds infrastructure ownership without necessarily delivering operational sovereignty. ‘On the other hand, full reliance on global platforms offers innovation and resilience but without jurisdictional control,’ she said.

She said IBM’s strategy is centered on collaborating with governments and enterprises in Asean to achieve meaningful digital sovereignty, ensuring they can innovate with AI on their own terms, while maintaining demonstrable authority over their systems, data, and operations. ‘This entails helping countries like the Philippines achieve their digital infrastructure ambitions with technology platforms, governance frameworks, and knowledge transfer that maximize long-term strategic value,’ Lian explained.

THERE is a new foldable in town as Samsung introduces the Galaxy Z Fold8, a wider but shorter version of its flagship foldable Galaxy Z Fold8 Ultra. There’s been a lot of interest in the Fold8 as BTS member j-hope, a Samsung ambassador, has been spotted holding it.

The Galaxy Z Fold8 brings dual 50MP rear cameras and 10MP front cameras on both displays. It runs on the Qualcomm Snapdragon 8 Elite Gen 5 for Galaxy with a 4,800mAh battery. At just 201 g, Fold8 is Samsung’s lightest Galaxy Z Fold yet.

Samsung created the Galaxy Z Fold8 because the brand believes that different people want different things from their portable devices as AI becomes part of many people’s everyday lives.

When folded, the Z Fold 8’s 10:16 cover screen is comfortable for messaging, social updates, browsing, and short-form video. When unfolded, the 4:3 main display is larger. When rotated, the same display ratio is perfect for reading articles, e-books and long-form content.

Samsung’s Flex Titanium technology is used in the new foldables and this strengthens the durability of the screens and reduces the visibility of the crease on the inner screen. With up to 3,000 nits of brightness, Vision Booster and a low-reflection display finish, the main screen stays vivid and easy to see even in outdoor settings.

The Galaxy Z Fold8 Ultra, which has the slimmest fold ever, is described as the ‘ultra foldable built for maximum productivity.’ It has a 200-megapixel main camera, a 50-megapixel wide camera, a 10-megapixel telephoto lens, and a screen that Samsung says ‘has been engineered from the inside out.’ The camera promises nice and crisp photos and videos. Powered by the Qualcomm Snapdragon 8 Elite Gen 5 processor exclusive for Galaxy, the Z Fold8 Ultra also has a much larger battery capacity at 5,000 mAh. The foldable has hinge and magnetic optimization to lessen the pressure when you fold and unfold the device. This makes it easier for those with disabilities to use the phone.

Of course, foldables are about multitasking so when unfolded, the Z Fold8 Ultra lets you open three apps at the same time, two side by side on both screens and one at the bottom.

As part of its suite of Galaxy AI features, the new phones will have the proactive Now Nudge, which reminds you of appointments, calls, messages, or meetings that you might have missed or failed to see on your device.

Another new Galaxy AI feature is Gemini Notebooks, which turn photos, recordings, and documents into infographics, meeting minutes, and more.

The new foldables aim to create a more intelligent canvas for creativity with Photo Assist (makes sophisticated edits effortless and seamless), My FanCam (creates social-ready content without manual cropping), and Document Scan (detects edges and captures multiple pages easily).

At 180g with a thinness of 6.1mm, the Galaxy Z Flip8 is the lightest and thinnest Flip handset. It has an Advanced Armor Aluminum frame for durability and refined proportions, so it’s easier to hold and/or put in your pocket.

The new FlexWindow, upgraded Now Brief, and AI-powered automation offer ways to use the Flip8 without having to open it.

The Galaxy Z Fold8 Ultra comes in Violet Shadow, Cream, and Graphite with Green Shadow as an online exclusive.

The Galaxy Z Fold8 comes in Lavender, Cream, and Graphite with Pistachio as an online exclusive.

The Galaxy Z Flip8 comes in Pink, Cream, and Graphite with Mint as an online exclusive.

MARKING another step in its commitment to empower the next generation of learners, Globe has activated a new 5G network facility at Miriam College, strengthening mobile connectivity across the campus and supporting a more dynamic digital learning experience for students, faculty, and staff.

As technology continues to transform education, reliable connectivity has become essential to students’ learning, collaboration, research, and resource access. The newly activated facility enhances network coverage and capacity throughout the campus through Globe’s advanced 5G network, helping create a more seamless and productive environment for teaching, learning, and campus operations.

Beyond strengthening digital access, the partnership opens avenues for students to participate in Globe programs designed to build future-ready skills and leadership capabilities. Through initiatives focused on artificial intelligence, entrepreneurship, digital content creation, volunteerism, internships, and grants, students can gain valuable experiences that complement their academic journey and prepare them for the evolving demands of the digital economy.

The collaboration reflects a shared commitment to nurturing well-rounded learners by combining technology, innovation, and meaningful pathways for personal and professional growth.

‘Globe is proud to partner with Miriam College in this important step toward better connectivity and stronger digital support for the campus community,’ said Globe General Manager for Greater Manila Area Melchor Rebutica. ‘By activating this new 5G site, we are helping ensure that students, faculty, and administrators have the reliable connection they need for learning, collaboration, and innovation while also creating possibilities for young people to grow through Globe’s student programs that support skill-building, creativity, and future-ready careers.’

For the college, the initiative reinforces the institution’s commitment to providing students with an environment where technology enhances learning, creativity, and collaboration. The strengthened connectivity will help support academic excellence while enabling learners to take full advantage of moments that prepare them for the future.

‘Miriam College is committed to empowering students to become compassionate leaders and changemakers in an increasingly interconnected world,’ said Miriam College President Dr. Gina Lizares. ‘Through this partnership with Globe, we are strengthening the digital learning experience on campus while creating opportunities that encourage innovation, leadership, and meaningful engagement beyond the classroom.’

By bringing together digital infrastructure and student development initiatives, Globe and Miriam College are helping equip young people with the tools and experiences they need to succeed both inside and outside the classroom.

Rainy weather can make even the most beautiful scenes appear dull and muted, leaving photos that look different from what people see in person. To help users capture and transform those moments, the vivo X300 FE introduces AI Creation, an AI-powered imaging feature that enhances photos before and after they are taken.

Building on vivo’s imaging expertise, the vivo X300 FE combines ZEISS professional imaging with the new AI Creation algorithm, allowing users to reshape scenes and apply different visual styles with a single tap, without the need for third-party editing applications.

Watch the hands-on video below to see the vivo X300 FE’s AI Creation features in action: Captured in Bonifacio Global City (BGC), Metro Manila, the sample images demonstrate how overcast weather can affect the appearance of photos. Using AI Creation, the vivo X300 FE offers two ways to enhance images, either before pressing the shutter or after the photo has been captured.

Feature 1: Choose scenes before taking a photo

Users can open the Camera app in Landscape and Night mode and tap the AI icon to access AI Style Filters. Selecting Morning Glow, one of the filters, applies a warm lighting effect during capture, transforming a gloomy cityscape into a brighter scene with a single press of the shutter. Meanwhile, using AI Creation mode allows users to choose from multiple AI styles, including Underwater, Dream, and Glow, each displayed as a preview thumbnail for easy selection.

Feature 2: Reimagine photos after capture

For existing photos, users can open an image in the Gallery, tap AI Creation, and choose from multiple AI styles, including Travel, Landscape, Fantasy, Stage, and Cyberpunk. After tapping Generate, the vivo X300 FE recreates the image with a new visual style in just moments.

Slim design, powerful AI Creation

The vivo X300 FE is powered by the Snapdragon 8 Gen 5 processor and features a ZEISS co-engineered camera system to deliver a smooth AI imaging experience. Measuring 7.99 mm thin and weighing 191 g, the smartphone combines advanced imaging capabilities with a lightweight design for users who want professional-quality photography in a compact device.

The vivo X300 FE is available in Mist Purple and Luxe Black for Php 54,999. It is available at vivo concept stores, vivo e-store, and official vivo stores on Shopee, Lazada, and TikTok Shop.

For more information, follow @vivo_philippines on TikTok, Facebook, Instagram, and X, or visit the official vivo website.

AS impeachment proceedings and partisan feuds continue to capture national attention, Citi Philippines CEO Paul Favila has offered a sobering counter-narrative. The perpetual controversies surrounding the Vice President and the political machinations within the Senate, while headline-grabbing, pale in comparison to a more insidious challenge: the nation’s enduring dependence on fuel imports. Favila’s assessment reflects how international investors actually view the country. While domestic audiences obsess over the impeachment trial and the latest political maneuverings, global capital is looking at a different metric entirely-energy security, or rather, the lack thereof.

The observation cuts two ways. Philippine economic policy has long been a prisoner of political cycles-every new administration reshuffles infrastructure, incentives, and regulations to suit its agenda. But Favila’s April meetings in New York, held amid escalating Middle East tensions, revealed something telling: global investors have learned to look past political theater. What actually erodes their confidence is structural vulnerability.

Favila’s comparison to other Asian nations is particularly instructive. He notes that while political chaos exists everywhere-‘parliamentarians throwing chairs at each other’-these countries have managed to progress economically despite their governance theatrics. The Philippines, however, has allowed politics to ‘seep into’ economic decision-making in ways that create genuine vulnerability.

The country’s reliance on imported fuel affects everything from electricity prices to transportation costs to manufacturing competitiveness. When global energy markets convulse, the Philippine economy absorbs the shock immediately. Domestic firms face higher operating costs. Consumers see inflation in food and basic goods. The central bank faces impossible choices between controlling inflation and supporting growth.

What makes Favila’s critique sting is his assertion that ‘politics does not know how to run an economy.’ This is not a call for authoritarianism or technocratic rule; rather, it is an indictment of how our political culture has consistently prioritized short-term partisan gains over long-term economic resilience. Energy policy, in particular, has suffered from decades of political interference, regulatory uncertainty, and populist pricing mechanisms that have discouraged the very investments needed to reduce import dependence.

The message to policymakers should be clear: investors are willing to tolerate political noise, but they will not tolerate structural economic fragility. The impeachment trial may make for compelling television, but it is the nation’s fuel import bill that determines whether factories stay open, whether jobs are created, and whether the Philippines can finally achieve the sustained growth that has eluded it for generations.

The irony is that political stability and energy security are not mutually exclusive; they are mutually reinforcing. A nation that controls its energy destiny is a nation that can weather political transitions without economic trauma. Conversely, a nation that remains dependent on foreign fuel will find that every political crisis becomes an economic crisis, and every economic shock becomes political ammunition.

Favila’s warning should serve as a wake-up call. The Philippines can survive political drama-other nations have proven that. What it may not survive is another decade of energy dependence masquerading as economic policy.

The challenge, then, is to take politics out of the economy where it matters most: in the structural decisions that determine whether the country controls its own destiny or remains hostage to global energy markets. That is the battle worth fighting. Everything else is just noise.

Senator Mark A. Villar, Principal Author of the Anti-Financial Account Scamming Act (AFASA), welcomed the law’s latest gains, saying it is now producing concrete results in the country’s fight against online financial crimes.

One year after AFASA took effect, the Bangko Sentral ng Pilipinas (BSP) reported that the Philippine National Police (PNP) has already filed more than 500 cases against scammers, fraudsters, money mules, and individuals involved in financial account scams.

‘Bilang Principal Sponsor ng AFASA noong 19th Congress at Chairman ng Senate Committee on Banks, Financial Institutions and Currencies, ipinasa natin ang batas na ito upang tulungang mabawi ang perang na-scam sa mga biktima ng financial crimes.’ Said Villar.

‘Mahigit 500 kaso na ang naisampa laban sa mga scammer-patunay na may pangil na ang AFASA. Bilang Principal Author ng batas, ikinagagalak kong makita na mas mabilis nang nakakakilos ang ating mga law enforcement agencies upang habulin at papanagutin ang mga kriminal na nagnanakaw ng pinaghirapang pera ng ating mga kababayan,’ he added.

The senator said AFASA was crafted not only to strengthen the government’s campaign against online financial crimes but also to ensure that banks and financial institutions adopt stronger safeguards to protect their clients.

Under AFASA, banks and other BSP-supervised financial institutions were given until June 2026 to upgrade their systems and implement stronger fraud management measures, including advanced fraud detection and enhanced authentication for high-risk transactions. With the compliance period now over, financial institutions that fail to meet these security requirements may be held liable for unauthorized transactions resulting from their noncompliance and could be required to reimburse clients for losses arising from scam incidents that occur due to the banks lack of fraud management systems.

Senator Villar also emphasized that the AFASA law also gives victims faster remedies by allowing banks to immediately place temporary holds on suspicious transactions, preventing stolen funds from being withdrawn while investigations are ongoing.

‘Hindi lamang pagpaparusa sa mga scammer ang layunin ng AFASA. Mahalaga ring matulungan agad ang mga biktima. Kaya binibigyan ng batas ng mas mabilis na paraan upang maharang ang mga kahina-hinalang transaksyon at mapigilan ang tuluyang pagkawala ng kanilang pinaghirapang pera,’ Villar said.

The senator reaffirmed his commitment to ensuring the full implementation of AFASA to strengthen public confidence in the country’s digital financial system.

‘Habang patuloy na nagbabago ang teknolohiya, kailangan ding patuloy na umunlad ang ating mga batas. Bilang Principal Author ng AFASA, sisiguraduhin nating ganap itong maipatutupad laban sa mga online scammer at mapanatili ang tiwala ng publiko sa ating digital financial system, Asahan nyo rin po ang patuloy nating pagsusulong ng mga batas at reporma para sa mas ligtas na banking sector sa bansa’ Villar concluded.