BPI holds a cybersecurity conference to ‘strengthen cyber resilience in an AI world’

In response to the escalating threat of cyber fraud and scams in the country, the Bank of the Philippine Islands (BPI) continues to ramp up the country’s cybersecurity strategies while leading the BPI Cybersecurity and Consumer Protection Conference 2024calling on Filipinos to participate and proactively combat cyber threats in the country.

With the theme “Securing Consumer Trust and Fortifying Cyber-Resilience in an AI World,” the conference, which will be held at Fairmont Makati on July 31, aims to highlight the importance of a multi-stakeholder approach to promoting cyber resilience and boosting cybersecurity. for support for policies that promote consumer protection and cybersecurity. According to the Philippine National Police, cybercrime cases increased from 13,890 in 2022 to 21,300 in 2023.

“We are fully aware that cyber threats are becoming increasingly sophisticated today. It is therefore crucial to be two steps ahead in tackling cyber scams and raising the awareness of Filipinos about these illegal online activities. With the challenges ahead, we encourage interested individuals to attend the conference so that they can learn about relevant plans, policies and initiatives in cybersecurity and consumer protection in the age of Artificial Intelligence,” said TG Limcaoco, president and CEO of BPI.

Through this conference, BPI also aims to bring together cybersecurity experts from the National Privacy Commission (NPC), the Department of Information and Communications Technology (DICT), the Cybercrime Investigation and Coordinating Center (CICC), the Securities and Exchange Commission, the Department of Information and Communications Technology (DICT), the Cybercrime Investigation and Coordinating Center (CICC), the Securities and Exchange Commission, the Department of Trade and Industry (DTI), the Armed Forces of the Philippines (AFP), the Asian Institute of Management ( AIM) and the USAID Better Access and Connectivity (BEACON) project.

Speakers include government officials such as Privacy Commissioner John Henry Naga, NPC; Undersecretary Alexander Ramos, Executive Director of the CICC; Undersecretary Amanda Marie Nograles, DTI Consumer Affairs and Legal Services Group; Assistant. Secretary Renato Paraiso, DICT Legal Affairs; Atty. Glory Grace Arugay, SEC; and Colonel Francel Margareth Padilla-Taborlupa, spokesperson for AFP. Speakers from the private sector and academia include Prof. Philip Kwa, AIM Clinical Professor and Academic Program Director for Master in Cybersecurity and Engr. Pierre Tito Galla, USAID BEACON cybersecurity chief. The panel discussions will be moderated by Atty. Richard Leo Baldueza, Secretary of the House of Representatives Committee on Banks and Financial Intermediaries; Mary Grace Mirandilla-Santos, IT policy analyst at Secure Connections; and dr. William Emmanuel Yu, expert in network security for secure connections.

The conference is part of BPI’s call for financial consumers to be more vigilant against cyber-related crimes by diligently practicing cyber hygiene, which refers to the practice of maintaining data and devices securely and resiliently.

This is also a new step in the Bank’s journey to build trust in digital systems. BPI invests significant resources every year in IT and cybersecurity systems and building best-in-class digital platforms. In 2023, the bank launched a new mobile app that used AI to provide banking customers with tracking and insights.

Early this year, BPI introduced new security enhancements to its mobile banking app, with three new security controls that users can easily activate. These include a device binding control, which functions like a digital lock, restricting access to authorized mobile numbers and devices.

“All this is in line with our Customer Obsession strategy, which aims to put the needs and financial well-being of our customers first, while encouraging Filipinos to do their part in securing their data and accounts. Cyber ​​security is a shared responsibility and we hope everyone will join this movement,” Limcaoco added.

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