BAP signs anti-fraud agreement

MANILA, Philippines - The Bankers Association of the Philippines (BAP), the British government and the UK Border Agency International Group signed recently a memorandum of understanding for a bank certificate verification system.

Upon the endorsement from the Bangko Sentral ng Pilipinas (BSP), the UK Border Agency has been working with the BAP on the development of a system in an effort to curb UK visa fraud.

Ambassador Stephen Lillie called it a landmark cooperation to continue the UK Government’s wider fight against visa fraud and forgery in the Philippine.

Banking documentation fraud forms 21 percent of all fraud encountered with Philippine applications. This covers false documentation as well as altered or unofficially issued certificates.

The agreement will put in place an electronic verification system that will establish a faster, more efficient and more accurate checking of bank certifications.

“The new system will enable us to detect even more quickly those who seek to cheat our system by providing false banking documents,” Ed Mackie, regional manager for NE Asia and Australasia of the UK Border Agency. The UK Border Agency is the government arm of the United Kingdom responsible for securing its borders and controlling migration. It is responsible for enforcing immigration and customs regulations and considers applications for permission to enter or stay in the United Kingdom, citizenship and asylum.

The agency has been intercepting increasing numbers of fraudulent applications, from 584 in 2007 to 657 in 2008, and 575 so far this year.

All fraudulent applications are referred to the National Bureau of Investigation (NBI) — Interpol Division. The UK Border Agency has made over 170 such referrals to date.

Representing the BAP in the signing activity were BAP Operations Committee chairman and Philippine Veterans Bank president and chief executive officer Ricardo Balbido Jr., and BAP executive director Leonilo Coronel.          — TPT