THE Department of Justice (DoJ) and industry group Bankers Association of the Philippines (BAP) signed on Friday a memorandum of understanding (MoU) to raise cybersecurity awareness and combat cybercrime in the Philippines.
The BAP said the goal of the MoU is to strengthen the banking industry's cyber-resilience and develop a collaborative partnership with the Justice department to achieve a collective, coordinated, and strategic cyber response through information sharing and collaboration in the wake of rising cybercrime incidents in the country.
"These include information campaigns for the Filipino public, which are complemented with undertakings ensuring that authorities will be up-to-date on all trends related to cybercrime and cybersecurity," BAP President Jose Arnulfo Veloso noted.
Justice Secretary Menardo Guevarra, on the other hand, hopes that the MoU will help to establish a solid framework for collaboration and alliance through an effective and efficient partnership that will help to reduce, if not completely eliminate, cybercrime and related offenses across the country.
Both parties are guaranteed to be kept up to date on the latest advancements in cybersecurity through the MoU, he said, to better protect the banking industry and the general public from fraudulent operations in cyberspace.
"This, we believe, will help strengthen the banking industry's resilience and the government's capability to protect the public against cyber attacks," Guevarra continued.
Gloss