Lender calls for stronger measures to protect consumers amid digitalization

by | Aug 5, 2024

(From left)BPI President and CEO TG Limcaoco; Senator Mark Villar, Chairperson Committee on Banks, Financial Institutions and Currencies; and Privacy Commissioner John Henry Naga, National Privacy Commission.

 

 

The Bank of the Philippine Islands (BPI) spearheaded the Cybersecurity and Consumer Protection Conference, in partnership with different government offices and private organizations. This initiative is part of BPI’seffort to help further strengthen the country’s cybersecurity efforts in the age of artificial intelligence (AI).

Aptly themed as “Securing Consumer Trust and Fortifying Cyber-Resilience in an AI World,” the conference also underscored the importance of involving both public and private sectors in the conversation to effectively foster policies that promote consumer protection and cybersecurity.

“At BPI, one of our main thrusts is digitalization. We understand that as we embrace the digital age, it is necessary that we shield our digital systems from the ever-evolving cyber threats that endanger our operations and the trust of our customers,” said TG Limcaoco, BPI President and CEO.

“This commitment to safeguarding our digital infrastructure is not just a business imperative but a responsibility we owe to our stakeholders and to the nation.”

The conference featured experts from the Senate of the Philippines, House of Representatives, Department of Information and Communications Technology (DICT), National Privacy Commission (NPC), the Cybercrime Investigation and Coordinating Center (CICC), the Securities and Exchange Commission (SEC), the Department of Trade and Industry (DTI), the Armed Forces of the Philippines (AFP), the Asian Institute of Management (AIM), USAID Better Access and Connectivity (BEACON) project, and Secure Connections.

The BPI Cybersecurity and Consumer Protection Conference saw nearly 200 in-person participants, including industry leaders, government officials, media, students, and cybersecurity professionals. Highlights of the conference included calls for stronger legislative measures, enhanced inter-agency cooperation, and the adoption of advanced cybersecurity technologies to protect consumers in the digital age.

“We are proud to support the government’s cybersecurity initiatives aimed at protecting Filipinos from various scams and cyber threats. The collaborative efforts of our government and private sector partners are crucial in creating a secure and resilient cyber environment for all,” Limcaocosaid.

Joining the panel discussion are (L-R): Undersecretary Alexander Ramos, Cybercrime Investigation & Coordinating Center; Jonathan John Paz, BPI Enterprise Information Security Officer & Data Protection Officer; Undersecretary Amanda Marie Nograles, DTI Consumer Affairs and Legal Services Group; and Atty. Richard Leo Baldueza, Secretary, Committee on Banks and Financial Intermediaries of the House of Representatives.

Sharing their expertise and knowledge, the roster of speakers included Chairperson of the Committee on Banks, Financial Institutions and Currencies, Senator Mark Villar; DICT Secretary Ivan Uy;Privacy Commissioner John Henry Naga, NPC; Undersecretary Alexander Ramos, CICC Executive Director; Undersecretary Amanda Marie Nograles, DTI Consumer Affairs and Legal Services Group; Asst. Secretary Renato Paraiso, DICT Legal Affairs; Atty. Glory Grace Arugay, SEC; and Col. FrancelMargareth Padilla-Taborlupa, AFP Spokesperson.

From the private sector and the academia, speakers included Prof. Philip Kwa, AIM Clinical Professor and Academic Program Director for Master in Cybersecurity and Engr. Pierre Tito Galla, USAID BEACON Cybersecurity Lead.

The panel discussions were moderated by Atty. Richard Leo Baldueza, House of Representatives Banks and Financial Intermediaries Committee Secretary; Mary Grace Mirandilla-Santos, Secure Connections ICT Policy Analyst; and Dr. William Emmanuel Yu, Secure Connections Network Security Expert.

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