Lumaktaw sa pangunahing content

BSP highlights consumers’ role in reducing cyber risks

Consumers play a critical role in reducing their vulnerability to cyber risks, according to the Bangko Sentral ng Pilipinas (BSP).

BSP Governor Benjamin Diokno. TMT File Photo

In a virtual briefing on Thursday, BSP Governor Benjamin Diokno said that as the central bank promotes the wider use of safe digital payments under the new economy, it was also aware of the need to address risks related to the increased accessibility of innovative digital financial products and services.

“This includes efforts to stamp out fraud related to the use of credit card,” he added.
Based on the Bangko Sentral’s analysis, fraudulent credit card transactions commonly involve information and identity theft; phishing and its variations; and card skimming and card replacement schemes, according to the central bank chief.

“Note that unwittingly divulging personal and account information may lead to unauthorized credit card usage,” he said.

With this, Diokno said the BSP believes that electronic safety was a collective responsibility.
“The BSP also recognizes the critical role of consumers in reducing vulnerability to cyber risks. Credit card holders must know their rights as well as their responsibilities when using plastic,” he added.

To help consumers, the Bangko Sentral governor said the regulator would continue sustaining its information campaign, citing its Digital Literacy Program, which disseminated advice on how to protect online banking accounts.

This includes creating strong passwords, watching out for phishing emails and spoofed websites, and keeping one’s account and personal information confidential.

The Bangko Sentral also has a consumer assistance mechanism that enables financial consumers to forward their concerns to BSP-supervised financial institutions (BSFIs).

This mechanism is now more accessible through the BSP Online Buddy (BOB), Diokno said.

The central bank also issued regulations mandating BSFIs to put in place stringent information technology security controls and sound risk management practices, and to adopt industry-standard technology, like a multifactor authentication system for online transactions.

It also tightened the reporting requirements for BSFIs on cyber-related incidents and operational disruptions to ensure that consumers are protected should an actual attack take place.


Source: ManilaTimes

Mga Komento

Mga sikat na post sa blog na ito

Leonen is backlog topnotcher

Supreme Court Associate Justice Marvic Mario Victor Leonen has racked up the top spots in his division and the court en banc in terms of pending cases. Marvic Leonen Documents from the court show that aside from 82 unresolved en banc cases, Leonen also has 899 pending cases in the Third Division as of March 31, 2020. The division’s Statistics on Judicial Pending Cases was signed by Division Clerk of Court Misael Domingo Battung erd. Leonen has 199 cases classified as “aging” and 700 “non-aging” cases in the Third Division which he heads. Non-aging cases are cases which are waiting for other pleadings to be submitted. Other members of the Third Division at that time when the statistics were made were Justices Alexander Gesmundo, Rosmari Carandang, Rodil Zalameda and Samuel Gaerlan. Leonen has been with the Supreme Court for eight years, having been appointed by President Benigno Aquino 3rd on Nov. 21, 2012. He turns 58 years old on December 29. He is the division’s m...

NHL exec Colin Campbell explains league’s schedule goals in Canada

NHL senior executive vice president Colin Campbell says the league would like to try to preserve as many full-capacity home games as possible for Canadian fans, but acknowledges other factors are at play in redoing the schedule during the current COVID-19 surge. “You’d like to give the fans the opportunity to go to as many games as they can. They’ve already been shortchanged in the last year and a half … shortchanged completely watching hockey here in Canada,” Campbell said in an interview on the Real Kyper and Bourne show on Sportsnet 590 The Fan on Friday. “It’s a rite of passage to watch the world juniors this time of year for all young kids. I remember growing up watching it. Now, it’s cancelled. We’re trying to save as much as we can and delay it.” The NHL postponed nine more games on Friday because of arena capacity issues in Canada — with teams being allowed anywhere from zero fans (Montreal Canadiens) to 50 per cent capacity (Calgary Flames, Edmonton Oilers, Vancouver Can...

SMC, Animal Kingdom rescue abandoned animals in Taliptip, Bulakan

Domestic animals that were abandoned in Barangay Taliptip in Bukakan, Bulacan were rescued by San Miguel Corporation (SMC) and Animal Kingdom AFTER providing new homes for former residents of Barangay Taliptip in Bulakan, Bulacan — future site of its P740-billion Manila International Airport project — San Miguel Corporation (SMC) is now helping rescue and relocate domestic animals that were abandoned in the area. SMC and animal welfare organization Animal Kingdom Foundation (AKF) have been working together to rescue some 70 abandoned or stray animals, mostly dogs, left at the site. Animal Kingdom is a non-profit, non-government organization dedicated to improving the welfare and living conditions of animals and eliminating the cruel trade of dog meat for human consumption in the country. Some 50 animals, consisting of dogs and cats, have been rescued. At least 20 more are set to be rescued from different sitios in the coming days. The rescued animals are brought to Animal Kingdo...