A newly created National Cybercrime Hub is expected to reinforce the Department of Information and Communications Technology (DICT)’s existing efforts in fighting cybercrimes that are rampant in the Philippines, including online abuse, exploitation, and cyberterrorism.
The Cybercrime Investigation and Coordinating Center (CICC) and blockchain firm Binance earlier teamed up to open the National Cybercrime Hub in December 2022.
The opening of the new National Cybercrime Hub will be an expansion of the ongoing collaboration between Binance and CICC, where the center will leverage on Binance’s expertise in blockchain forensics and cybercrime prosecution to detect and reduce the cybercrime rate in the Philippines.
This collaboration is part of a larger cybersecurity and law enforcement effort spearheaded in the Asia Pacific region by Jarek Jakubcek, Binance head of intelligence and investigations for Asia Pacific, which sees different sectors and law enforcement agencies partnering with the exchange in the global fight against cybercrimes.
“Ensuring the secure and sustainable growth of the global crypto ecosystem involves doing our part to bolster international cybersecurity,” Jakubcek said.
“Binance proactively collaborates with both private and public entities to detect bad actors and plays a significant role in helping global law enforcement deal with cyber and financial crime. The launch of the National Cybercrime Hub will provide a strategic avenue for Binance to work with the Philippines authorities in advancing the country’s cybersecurity landscape.”
Gleb Kostarev, regional head for Asia at Binance, who graced the event for the ribbon-cutting ceremony, said: “Protecting users remains as our top priority in Binance and we continue to be fully committed to our efforts in fighting cybercrime and promoting blockchain user protection. With the new National Cybercrime Hub, we aim to make it the one-stop platform for cybercrime management in the Philippines.”
Binance is in close coordination with other law enforcement agencies and other relevant partners to offer training, seminars and operational cooperation in taking down cybercrime groups.
This is on top of Binance’s existing standards native to the exchange such as their Know-Your-Customer (KYC) process which is compliant with global Anti Money Laundering laws in over 200 jurisdictions, and their Secure Asset Fund for Users (SAFU) insurance program to protect user assets.