BSP governor Benjamin Diokno said the common crimes committed included fraudulent card usage and unauthorized or disputed transactions due to phishing e-mails and stolen one-time password (OTP).
As a result, cybersecurity now tops corporate priorities, with 93% of organizations in the Philippines saying that cybersecurity is extremely important or more important than before the pandemic.
Under the proposed rules, a regulated entity must create a management group called the Information Security Group (InfoSec Group), separate from its existing Information Technology Group, and appoint a Chief Information Security Officer.
Between January and June 2020, the number of DDoS attacks affecting educational resources increased by at least 350% when compared to the corresponding month in 2019.