Sumsub, a vrification and compliance software provider,  said on October 28 that it partnered with MarCoPay, a Philippine e-money issuer for seafarers and their families, to support customer onboarding, compliance checks, and transaction monitoring under the Philippines’ Anti-Financial Account Scamming Act.

The law, formally known as Republic Act No. 12010, was enacted in 2024. The Bangko Sentral ng Pilipinas later published its implementing rules.

MarCoPay uses Sumsub for document checks, liveness detection, sanctions screening, and other anti-money laundering reviews. Sumsub said the law’s fraud-management requirements include stronger real-time monitoring and fund-recovery controls.

A 2025 study estimated the economic impact of Filipino seafarers at 1.1 trillion pesos (US$16.6 billion), or 4% of the Philippines’ gross domestic product.

Citing its 2025-26 fraud report, Sumsub said deepfake attacks in the Philippines rose 61% year on year in 2025.

🔗 Source: Sumsub