The network enables participating institutions to securely share fraud intelligence, flag suspicious activities and strengthen fraud detection.
“Fraud is no longer an isolated challenge that institutions can address on their own,” CIBI president and CEO Pia Arellano said.
She stressed that cyber threats increasingly move across platforms, organizations and industries, making closer cooperation among financial institutions, regulators and law enforcement agencies critical.
CIBI said expanding information sharing through FIDS could help institutions identify synthetic identities, suspicious activities and emerging fraud schemes before losses occur.
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