Daily Tribune‘There has been progress in building collaboration between the government and the private sector. The most important among these are information sharing and awareness campaigns that seek to strengthen law enforcement against cybercrime.’
The Bank of the Philippine Islands or BPI has expanded its literacy program for prosecutors to help them solve and deter financial cybercrimes.
Under its partnership with the Department of Justice, BPI said more prosecutors have gone through cybercrime investigation training sessions held in October and early December in Paringao, La Union and Tagaytay, Cavite.
"There has been progress in building collaboration between the government and the private sector. The most important among these are information sharing and awareness campaigns that seek to strengthen law enforcement against cybercrime," Jonathan John Paz, BPI data protection officer, said.
BPI and DoJ officials have discussed the types and agents of financial cybercrimes, their deterrents, electronic evidence and legal instruments.
Global market researcher Statista projects digital banking in the Philippines could grow by 11 percent each year.
Digital fraud in Q4
However, consultancy firm TransUnion Philippines warns customers and retailers against digital fraud which often spreads in the fourth quarter of the year when more people shop for the Christmas season.
TransUnion reported that cases of suspected digital shopping fraud rose by 19 percent last month compared to other months this year and by 4.4 percent from the level in 2022.
