The Bangko Sentral ng Pilipinas (BSP) will circulate the next batch of P1,000 polymer banknotes in September to complete a planned issuance of 158.4 million pieces this year. “The next tranches of the polymer banknotes are expected to be issued starting September 2022 until April 2023. An estimated
Bank of the Philippine Islands is ramping up its information technology spending by 50 percent to P14 billion this year from about P9 billion a year ago.
MANILA - Policies and laws against cybercriminals are seen to improve following the closer collaboration between the Bankers Association of the Philippines (BAP) and the Department of Justice (DOJ). During the virtual memorandum of understanding (MOU) signing ceremony on Friday, BAP cybersecurity committee vice chair Ramon Jocson, who is also Bank of the Philippine Islands chief operating officer, said cybercrimes "sometimes stretches the law" given how criminals have leveraged technology to do their illegal activities. "As such, it requires dialogue between us and the government primarily, apart from law enforcement, it's the Department of Justice because it's really (the) interpretation of the law. And if we do catch these criminals what happens next," he said. Under the agreement, the BAP and the DOJ will conduct information campaigns, events, and activities like free learning sessions to discuss the latest trends and developments on cybersecurity. Jocson
The Philippines’ biggest bankers’ group boosted cooperation with the government and sought new laws against cybercrime, as losses due to these illicit activities hit P1 billion during the pandemic. The Bankers Association of the Philippines (BAP) signed on Friday a memorandum of agreement with the Department of Justice to bolster…
Department of Justice (File photo) MANILA - The Department of Justice (DOJ) and a bankers' group will draft a memorandum of understanding (MOU) as part of a consolidated effort to fight online fraud. DOJ Office of Cybercrime (DOJ-OOC) officer-in-charge lawyer Charito Zamora said pending the approval of the MOU, the agency has been consistently cooperating with the Bankers Association of the Philippines (BAP) through capacity building and public awareness on cybercrime. "The collaboration eyes achieving the common goal of establishing a collective, coordinated, and strategic cyber response within the banking industry through information sharing and collaboration," she told reporters via text message on Monday. "To this end, an MOU between DOJ and BAP is being finalized to establish a formal agreement that would promote a genuine atmosphere of collaboration and alliance through an effective and efficient partnership meant to curb cybercrime and cyber-related offenses n