PH risks losing ₱603B yearly to money mule fraud, report warns

MANILA, Philippines — The Philippines could lose up to P603 billion annually, or nearly 3% of its gross domestic product (GDP), to fraud involving money mule accounts, according to a joint whitepaper by trust tech company IDfy Philippines and Filipino credit bureau CIBI Information Inc. The report, “Mule Hunting: Are We Chasing Ghosts?,” examined Bangko