Data from the Cybercrime Investigation and Coordinating Center (CICC) showed a sharp increase in cybercrime complaints, from 3,317 in 2023 to 10,004 in 2024. Consumer fraud comprised 35% of the reports, with losses nearing ₱198 million.
RCBC chief information security officer Carlos Tengkiat said the actual biggest cybersecurity threat is not the type of technology, it's the rapid speed of how technology changes.
The National Association of Data Protection Officers of the Philippines (NADPOP), Philippine Computer Emergency Response Team (PH-CERT), and Secure Digital Life Center (SDLC) have partnered with the global technology firm Tools for Humanity (TFH) and its cryptocurrency project, World Network.
Two local technology groups have called on the fintech industry, particularly e-wallet firms, to institute stronger cybersecurity measures and consumer protection in the wake of recent unauthorized fund transactions on the GCash e-wallet platform.
As technology becomes more integrated into our daily lives, the demand for skilled professionals who can protect our data and systems from cyberattacks is growing at an incredible rate.
The Financial Services Cyber Resilience Plan (FSCRP) serves as a roadmap and primary framework aimed at enhancing the resilience of the financial services sector against cyber threats.
The conference also underscored the importance of involving both public and private sectors in the conversation to effectively foster policies that promote consumer protection and cybersecurity.
While organizations are fast-tracking generative Artificial Intelligence (gen AI) adoption, many are overlooking the new security risks being precipitated by this technology.
