The Bankers Association of the Philippines (BAP) has launched an anti-scam information campaign to promote cybersecurity, cybersafety, and awareness among the Filipino banking public.
The anti-scam campaign will be carried out through various stakeholders, such as social media influencers, government agencies, and the media, to promote cybersecurity awareness throughout the country.
The BAP said it has already signed a memorandum of understanding (MOU) with the Kapisanan ng mga Brodkaster ng Pilipinas to help disseminate information on cybersecurity and data protection.
An MOU signing with the Department of Justice (DOJ) will also take place, with the partnership aiming to train cybercrime enforcers and prosecutors in holding cybercriminals accountable for their actions.
“Cybersecurity is a shared responsibility. With this partnership with KBP, we are able to keep the public informed and educated on the latest trends and scenarios on cybercrime, considering the growing threats of cybercriminals. They have clearly stepped up their game as they try to take advantage of the rapid online migration of essential activities amid the COVID-19 pandemic,” BAP President Wick Veloso said.
BAP said the Bank Marketing Association of the Philippines (BMAP) will also be the official partner in unifying the execution of the anti-scam campaign on social media by BAP’s member-banks.
“The Philippines is currently a cybercrime hotspot, underscoring the need to increase awareness and vigilance against the increasing prevalence of cybercrime in the country. The BAP, together with its partners, will work towards equipping Filipinos with the necessary information and tools they need to stop cybercriminals from harming the public and stealing their hard-earned money,” Veloso said.
The Bangko Sentral ng Pilipinas (BSP) reported losses amounting to P60.6 million or 54.5 percent of all total bank losses in March to May 2020.
Broken down, 80.5 percent of all cyber incidents reported were credit card and internet banking-related, accounting for 79 percent of total losses.
The BSP said the majority of these threats were in the form of phishing emails and malicious websites, some even disguised as Covid-19 campaigns.