TO HELP strengthen the banking industry’s resilience to cyber attacks, the Bangko Sentral ng Pilipinas (BSP) has ordered BSP-supervised financial institutions (BSFIs) to participate in a cybersecurity sharing platform hosted by the Bankers Association of the Philippines (BAP).
“In order to further strengthen the industry’s cyber-resilience amidst growing threats, the BSP reiterates the need for BSFIs to have a collective, coordinated and strategic cyber response through information sharing and collaboration,” according to BSP Memorandum No. M-2019-016 issued on June 11 and published last June 13 as signed by Sector-in-Charge Restituto C. Cruz of the Financial Supervision Sector.
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