The Bankers Association of the Philippines (BAP) and the Department of Justice Office of Cybercrime (DOJ-OOC) spearheaded a forum on cybersecurity that aims to help better protect the public from cybercrime activities.
Part of the CybersecurityX industry campaign, the forum held Friday, gathered together the prosecution service and the government’s cybercrime agencies to collaborate on identifying and addressing the newest in cyber threats and trends.
BAP is the leading organization of universal and commercial banks in the country, while the DOJ-OOC is the competent authority on training and capacity building related to cybercrime prevention, suppression, and prosecution in the country.
Joining the workshop were DOJ’s National Prosecution Service; the Cybercrime Division of the National Bureau of Investigation, which is the agency mandated by law to investigate all cybercrime activities where computer systems are involved; and the Anti-Cybercrime Group of the Philippine National Police (ACG-PNP), which implements and enforces pertinent laws on cybercrime and other cyber-related crimes.
Trends and threats
A lecture on Cyber Threats and Trends was delivered by cyber threat intelligence analyst Jono Angelo T. Biyo from Cyberint, a global threat intelligence provider. The lecture detailed the current cyber threats in the country, such as phishing, vishing, carding (the illegal use of credit or debit cards by unauthorized actors), and malware attacks that steal credentials from bank customers.
Also featured in the learning activity was the Anti-Scam/Fraud Banking Industry Roadmap discussed by Cesar C. Santos, Jr. Managing Director, BAP Data Exchange, Inc (BAPDX). Mr. Santos discussed the various types of scams and the corresponding measures that the banking industry is taking to prevent scams and to protect consumers. These include educating the public, interdicting scam proceeds, and prosecuting scammers.
The learning session was capped by a panel discussion that tackled important issues surrounding cybersecurity. The discussants included Ramon L. Jocson, Vice Chair, BAP Cybersecurity Committee); Manuel Joey A. Regala, Founding President, Information Security Officers Group (ISOG); and Redentor C. Bancod, BancNet Director and InstaPay ACH Steering Committee Chairman.
Mr. Jocson stated that he is “looking forward to partnering with DOJ, PNP, and NBI because the extent by which crime is being committed to our fellow citizens is beyond acceptable”, and that there is a need to come together to address these cyber threats.
In his opening remarks, DOJ Secretary Menardo I. Guevarra said that “crime continually evolves even in a non-physical space, otherwise known as the cyberspace. So must our capability to deal with it – evolved likewise.”
Prosecutor General Benedicto A. Malcontento, in his closing remarks assured that “the DOJ is committed as an agency to render its continuous support to further develop the cooperation among us in furtherance of our collective fight against cybercrimes.”
Memorandum of Agreement
The learning workshop was the first of a series of activities under a memorandum of understanding (MOU) between BAP and DOJ supporting the CybersecurityX, an industry campaign for cybersecurity awareness and mitigation. Aimed at establishing collective, coordinated, and strategic cyber responses, the MOU allows the parties to work closely together through information sharing and learning activities to strengthen the resilience of the banking industry and to protect the public against cyberattacks.
At the virtual signing ceremony of the MOU held last month, BPI COO Jocson said, “The information sharing between the private and public sectors would help identify methods used by cybercriminals and improve prosecution.”
Through the MOU, BAP and DOJ express their commitments to the private-public partnership in helping to better protect the banking industry and the public against cybercrime.
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