Philippines’ corruption fight takes a digital turn

Homepage > News > Business > Philippines’ corruption fight takes a digital turn TL;DR: As the Philippines accelerates its digital transformation, technology is becoming a double-edged sword in the fight against corruption. Digital tools are helping authorities trace suspicious transactions, but crypto and digital wallets are also giving bad actors new ways to fragment, move, and conceal illicit funds. The ongoing flood control scandal shows how crypto has become part of the financial trail, underscoring the need for stronger oversight, KYC, and transaction monitoring. Key Takeaways: Technology is giving investigators better tools to follow dirty money while simultaneously giving criminals more sophisticated ways to hide it. Stricter banking controls are pushing illicit funds into crypto, where multiple wallets, blockchains, and platforms can make transactions harder to trace. The flood-control scandal has exposed how digital assets, including crypto wallets and stablecoins, can become part of the financial trail in alleged corruption cases. Authorities are pushing for tighter oversight of VASPs to connect blockchain transactions with verified identities. The Philippines is...