the Cybersecurity and Consumer Protection Conference.
In response to the escalating threat of cyber fraud and scams in the country, the Bank of the Philippine Islands (BPI) continues to ramp up the nation’s cybersecurity strategies as it spearheads the BPI Cybersecurity and Consumer Protection Conference 2024, urging Filipinos to participate and proactively combat cyberthreats in the country.
With the theme “Securing Consumer Trust and Fortifying Cyber-Resilience in an AI World,” the conference, which will be held on July 31 at Fairmont Makati, seeks to highlight the importance of a multi-stakeholder approach to fostering cyber-resilience and pushing for support toward policies that promote consumer protection and cybersecurity. According to the Philippine National Police, cybercrime cases increased to 21,300 in 2023 from 13,890 in 2022.
“We are fully aware that cyberthreats are getting more sophisticated these days. It is therefore critical to be two steps ahead to address cyber scams and increase awareness of Filipinos about these illicit online activities. With the challenges at hand, we encourage interested individuals to attend the conference so they can learn about relevant plans, policies, and initiatives on cybersecurity and consumer protection in the time of artificial intelligence,” said TG Limcaoco, BPI President and CEO.
Through this conference, BPI also aims to bring together cybersecurity subject matter experts from the National Privacy Commission (NPC), Department of Information and Communications Technology (DICT), Cybercrime Investigation and Coordinating Center (CICC), the Securities and Exchange Commission, the Department of Trade and Industry (DTI), the Armed Forces of the Philippines (AFP), the Asian Institute of Management (AIM), and the USAID Better Access and Connectivity (BEACON) project.
Speakers include government officials, such as Privacy Commissioner John Henry Naga, NPC; Undersecretary Alexander Ramos, CICC Executive Director; Undersecretary Amanda Marie Nograles, DTI Consumer Affairs and Legal Services Group; Asst. Secretary Renato Paraiso, DICT Legal Affairs; Atty. Glory Grace Arugay, SEC; and Col. Francel Margareth Padilla-Taborlupa, AFP Spokesperson. From the private sector and the academia, speakers include Prof. Philip Kwa, AIM Clinical Professor and Academic Program Director for Master in Cybersecurity and Engr. Pierre Tito Galla, USAID BEACON Cybersecurity Lead. The panel discussions will be moderated by Atty. Richard Leo Baldueza, House of Representatives Banks and Financial Intermediaries Committee Secretary; Mary Grace Mirandilla-Santos, Secure Connections ICT Policy Analyst; and Dr. William Emmanuel Yu, Secure Connections Network Security Expert.
The conference forms part of BPI’s call for financial consumers to be more vigilant against cyber-related crimes by meticulously adopting cyber hygiene, which refers to one’s practice of maintaining secure and resilient data and devices.
This is also another step in the Bank’s journey to build confidence in digital systems. BPI annually invests significant resources for IT and cybersecurity systems and building best-in-class digital platforms. In 2023, the bank launched a new mobile app that utilized AI to provide bank clients with tracking and insights.
Early this year, BPI introduced new security enhancements to its mobile banking app featuring three new security controls that users can easily activate. These include a device binding control, functioning as a digital lock, which restricts access to authorized mobile numbers and devices.
“All these are aligned with our Customer Obsession thrust that aims to put our clients’ needs and financial well-being front and center, while encouraging Filipinos to do their part in securing their data and accounts. Cybersecurity is a shared responsibility, and we hope everyone joins us in this movement,” Limcaoco added.
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