Bangko Sentral, banking groups launch cyber hygiene information drive | ABS-CBN
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Bangko Sentral, banking groups launch cyber hygiene information drive
Bangko Sentral, banking groups launch cyber hygiene information drive
ABS-CBN News
Published Jan 02, 2023 02:59 PM PHT
MANILA - The Bangko Sentral ng Pilipinas on Monday said it has partnered with the Bankers Association of the Philippines and the Bank Marketing Association of the Philippines to launch a cyber hygiene campaign to protect Filipinos from online scams.
MANILA - The Bangko Sentral ng Pilipinas on Monday said it has partnered with the Bankers Association of the Philippines and the Bank Marketing Association of the Philippines to launch a cyber hygiene campaign to protect Filipinos from online scams.
In a statement, the BSP said the groups would roll out the "Check-Protect-Report" information drive.
In a statement, the BSP said the groups would roll out the "Check-Protect-Report" information drive.
"Check" is about being careful when sharing information, "protect" means safeguarding and not sharing personal data to random text messages or emails while "report" is urging Filipinos to urgently inform their banks of suspicious transactions, the central bank said.
"Check" is about being careful when sharing information, "protect" means safeguarding and not sharing personal data to random text messages or emails while "report" is urging Filipinos to urgently inform their banks of suspicious transactions, the central bank said.
“Amid the rise in digital transactions, the CPR campaign encapsulates what we encourage the public to cultivate as a habit. It is expected to enhance financial consumer welfare, further strengthen confidence in the use of electronic payments, and therefore promote growth,” said BSP Governor Felipe M. Medalla.
“Amid the rise in digital transactions, the CPR campaign encapsulates what we encourage the public to cultivate as a habit. It is expected to enhance financial consumer welfare, further strengthen confidence in the use of electronic payments, and therefore promote growth,” said BSP Governor Felipe M. Medalla.
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Bolstering public trust in the payment system is also in line with the BSP's goal of digitizing 50 percent of retail payments and onboarding 70 percent of adult Filipinos to the formal banking system by 2023.
Bolstering public trust in the payment system is also in line with the BSP's goal of digitizing 50 percent of retail payments and onboarding 70 percent of adult Filipinos to the formal banking system by 2023.
The BSP said the campaign also stressed that cyber security is a shared responsibility among financial regulators, industry participants and financial consumers.
The BSP said the campaign also stressed that cyber security is a shared responsibility among financial regulators, industry participants and financial consumers.
“As proponents of safe and efficient banking practices, the banking industry continuously works closely with the regulators, legislators and law enforcement agencies to effectively curtail fraud and the proliferation of cybercrimes," said BAP President Antonio Moncupa.
“As proponents of safe and efficient banking practices, the banking industry continuously works closely with the regulators, legislators and law enforcement agencies to effectively curtail fraud and the proliferation of cybercrimes," said BAP President Antonio Moncupa.
"Central to this goal is the protection of the banking public’s hard-earned funds which can only be achieved with the joint effort by the financial institutions, government agencies and the customers themselves,” he added.
"Central to this goal is the protection of the banking public’s hard-earned funds which can only be achieved with the joint effort by the financial institutions, government agencies and the customers themselves,” he added.
Telcos in the Philippines also recently began mandatory SIM registration, which is also seen to reduce fraud.
Telcos in the Philippines also recently began mandatory SIM registration, which is also seen to reduce fraud.
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