Bangko Sentral ng Pilipinas (BSP)-supervised financial institutions (BSFIs) have one year to implement reputational risk management in their operations, according to the monetary authorities.
Facebook Philippines has yet to issue a statement on the breach of Filipino accounts, allegedly 879,699 in all.
The figure is part of a global Facebook breach reportedly affecting 533 million Facebook users from 106 countries, exposing phone numbers, Facebook IDs, full names, locations, birthdates, bios, and, in some cases, email addresses.
The official Twitter account of the Philippine Statistics Authority (PSA) was hacked on Saturday, April 17.
An overwhelming majority of Filipino households said they have been negatively impacted by the COVID-19 pandemic, as family members lose jobs while bills and loan obligations mount.
Worse, households reported that they have recently been targets of digital fraud.
Ayala-led Bank of the Philippine Islands (BPI) will spend P10-11 billion this year as information technology (IT) and cybersecurity investments, more than it has been paying for digitalization in the last five years.
Cyber criminals are well known for taking advantage of any opportunity. The largest vaccine rollout in U.S. history is no exception, with hackers now finding ways to target the supply chain. Understanding why the COVID-19 vaccine supply chain being targeted and how to protect against such attacks is vital for IT leaders who understand that healthcare and cybersecurity must now go hand in hand.
President Jose Arnulfo Veloso. the new president of the Bankers Association of the Philippines has an extensive banking and capital markets experience that spans over 30 years.
“During my leadership, we will focus on these three pillars; post pandemic economic recovery, digitalization with cybersecurity and environmental, social, and corporate governance (ESG ),” he said.
In this pandemic, the urgent need for businesses to maintain productivity and continuity became top priorities, while security took a backseat. However, not many realize that cybersecurity readiness is actually a form of business continuity that is just as critical, more so as we make our homes the new workplace and collaborate over residential Wi-Fi networks.
The Department of Justice (DOJ) is currently dealing with more than a dozen complaints involving unfair debt collection practices and cyber harassment committed by online lending companies (OLCs).
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