To crack down on cybercriminals and bring them to justice, GoTyme Bank and the Philippine National Police-Anti-Cybercrime Group have recently sealed a Memorandum of Agreement (MOA), further strengthening defenses against online threats.

In a statement released on Wednesday, GoTyme, a collaboration between the Gokongwei group of companies and the multi-country digital banking group Tyme, said the MOA was signed last 30 September 2024 in Camp Crame between GoTyme Bank co-CEO Albert Tinio and PNP ACG Director Police Major General Ronnie Francis M. Cariaga.

With the MOA, the PNP ACG is tasked to enforce pertinent laws on cybercrime and other digital crimes to pursue an effective cybersecurity campaign.

Cariaga, who assumed the PNP ACG directorship in April this year, said, “Our intensified operation…has yielded positive results, with a notable decrease in reported cybercrime cases. This success can be attributed to our strong partnerships with the private sector, internet intermediaries, and law enforcement agencies. We remain steadfast in pursuing cyber criminals and are committed to creating a safer digital environment for everyone.”

GoTyme Bank has established a dedicated fraud and crime prevention division under the leadership of former fraud strategy head Jason Brasileño.

The division will enhance fraud detection, prevention, and prosecution efforts.

To strengthen its capabilities, GoTyme is also in partnership with the Cybercrime Investigation and Coordinating Center to improve real-time cybercrime protection.

It is also collaborating with other government agencies, including the National Bureau of Investigation and the Department of Justice, to “catch the thieves.”

 

Multifront campaign

The PNP official has called upon the government and the private sector: “Working together, we are harnessing our collective expertise and passion to tackle the challenges of the digital age. Our joint efforts will lead to effective strategies and technologies to address cyber financial threats.”

He stressed that this MOA is more than just a contract or a receipt; it is a pledge to collaborate in the mission to strengthen cybersecurity and represents a crucial step forward in our collective efforts to combat cybercrime and protect our digital economy.

“As we are bound to take a significant step forward in our commitment to a safer, more secure digital landscape, we hope that the MOA between GoTyme Bank and PNP ACG will serve as a beacon of our resolve to make a significant and meaningful difference as well as to build a future where all voices are valued and opportunities are within our reach, especially in the digital era,” Cariaga said.

For its part, GoTyme Bank is actively collaborating with government agencies, banking industry associations, and law enforcement to enhance anti-fraud legislation and investigative capabilities. Internally, the bank is strengthening customer protection through an improved Know Your Customer (KYC) process and leveraging advanced AI technology to identify suspicious activities. The bank remains committed to human interaction, ensuring customers can always speak to a live agent.

Tinio said, “Security and safety are paramount in our mission to deliver simple, convenient banking to Filipinos. To this end, we continuously invest in cutting-edge cybersecurity and fraud prevention measures. Alongside our technological advancements, we prioritize public education on scam prevention and reporting. By collaborating closely with the PNP ACG and other government agencies, we believe that a united front is essential to effectively combat cyber threats.”

GoTyme is urging the public that if citizens suspect a scam, they encourage immediate action by reporting the incident to the sending bank and the GoTyme Bank hotline #GO8888.

Tinio added, “We believe that empowering our users with knowledge and a straightforward reporting process is crucial in creating an environment where scammers find it increasingly difficult to operate. A well-informed and alert customer base acts as a strong deterrent to scammers targeting GoTyme.”