HID, a company that provides secure identity solutions, announced the availability of its updated FIDO-certified authentication solutions in the Philippines, to help financial institutions and enterprises comply with the Bangko Sentral ng Pilipinas’ (BSP) new rules on IT risk management under the Anti-Financial Account Scamming Act (AFASA).
BSP requires organizations under its supervision to strengthen fraud management and identity verification by June 25, 2026. The directive calls for the adoption of secure, phishing-resistant methods, such as passwordless authentication through FIDO standards.
The measure comes amid rising online scams and fraud cases in the country.
