Gokongwei virtual bank gets CICC aid

GoTyme Bank, a joint venture between the Gokongwei group of companies and the multi-country digital banking group Tyme, and the Cybercrime Investigation and Coordinating Center (CICC) will step up a collaboration to strengthen real-time safeguards against cybercrime with the expected surge in digital bank customers.

The CICC is an attached agency of the Department of Information and Communications Technology (DICT).

It was created by virtue of Republic Act 10175 or the Cybercrime Prevention Act of 2012 and is the country’s lead agency in the prevention and suppression of cybercrime.

GoTyme Bank co-chief executive officer Albert Tinio and CICC executive director Alexander Ramos signed a memorandum of understanding (MoU) on 22 May at the National Cybercrime Hub in Bonifacio Global City in Taguig City.

Monitoring fraud

GoTyme had been closely collaborating with CICC in cybercrime awareness and education as part of Scam Watch Pilipinas.

Tinio said, “The MoU is a big step and acts a warning for those committing these crimes as coordinated efforts ramp up in putting these people to justice.”

“To get the edge on attacks, cybersecurity professionals and governments should embrace data and public-private partnerships such as this,” he added.

Ramos welcomed the partnership with the private sector as part of the “Whole-of-Society” approach he introduced in fighting cybercrime.

“Cyber security is now more essential to our future than ever before. It’s the line of defense for virtually everything we rely on today: financial services, healthcare, travel, personal information, and identity. In the long haul we are out to fortify and improve the country’s cyber resilience,” he said.