This is crucial as banks carry the responsibility of protecting customers and their information, securing funds, preventing financial losses, and increasing the public’s trust in the industry.
In an email interview with The STAR, the cybersecurity committee of the Bankers Association of the Philippines (BAP) said even though much work has been done to strengthen cybersecurity, more efforts have to be made.
“Cybersecurity remains one of the top priorities for the entire banking industry as ensuring the safety of the banking public is crucial to ensuring that their trust in the financial system will remain,” the BAP said.
According to data from the Philippine National Police, cybercrime cases climbed by 68.98 percent in 2023 from a year ago.
Majority of the cybercrimes were online scams with 14,030 cases, 94.6 percent higher than the 7,208 incidents in the previous year. The other cybercrimes are identity theft, online threats, data interference, computer-related fraud, love scam, cyber libel, and violence against women and children.
The rising number of cases can be attributed to several factors like the public being more willing to report and ask for help from authorities, the BAP said.
Diese Geschichte stammt aus der March 18, 2024-Ausgabe von The Philippine Star.
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Diese Geschichte stammt aus der March 18, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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Rice tariff reduction loss may hit P22 B - DOF
The Department of Finance (DOF) has estimated that revenue losses from rice tariff reduction may reach up to P22 billion this year as the government moves to bring down inflation and eventually cut interest rates to make room for economic growth.
MPIC proposes to integrate operations of MRT-3, LRT-1
Conglomerate Metro Pacific Investments Corp. (MPIC) plans to pour in at least P50 billion to operate the country's two major commuter rail system in an integrated manner.
Sideways trading may continue this week
The benchmark Philippine Stock Exchange index finished in the positive territory last Friday with a three-day winning streak. It rose by 1.33 percent week-on-week, ending at 6,518.76.
Loan defaults soar on rising interest rates
The share of soured loans to the banking sector’s total loan book increased to an 11-month high of 3.45 percent as of end-April, ending two straight months of decline, amid a high interest rate environment, according to the Bangko Sentral ng Pilipinas (BSP).
Phl rice imports continue to mount
The country’s rice imports expanded by over a quarter to more than two million metric tons (MT) from January to May compared to last year’s level, according to the Bureau of Plant Industry (BPI).
Forex buffer hits $105 B in May
Highest in more than 2 years
BOLTS REGAIN SERIES LEAD
Power restored, control regained. Quickly rebounding from their Game 2 fumble, the Meralco Bolts eked out a 93-89 nail-biter over the San Miguel Beermen to take the driver’s seat anew in the PBA Philippine Cup finals at 2-1 last night at the Smart Araneta Coliseum.
Clark faces US Olympic team snub
Women’s basketball phenomenon Caitlin Clark will not be selected for the United States Paris Olympics team, multiple US media reports said Saturday.
Ardina makes Shoprite money round
Dottie Ardina carried the fight for the Philippines in the second round of the Shoprite LPGA Classic Saturday and ensured Filipina representation in the final round at the Seaview Bay Course in Galloway, New Jersey.
SWIATEK WINS FOURTH PARIS CROWN, FIFTH SLAM TITLE
Poland's Iga Swiatek extended her French Open reign on Saturday as she thrashed Jasmine Paolini 6-2, 6-1 in the final to win a third successive Roland Garros title.
