Featured image above shows, from left: Maria Elena Torrijos, Head of Public Affairs and Communications, BPI; Engr. Pierre Tito Galla, Head of Security and Compliance Department, Enshored Inc.; Professor Philip Kwa, Academic Program Director, Master in Cybersecurity Program, AIM; Deputy Governor Elmore Capule of the BSP Corporate Services Sector; TG Limcaoco, President and CEO,BPI; Senator Mark Villar; Rep. Brian Poe Llamanzares, Chairman of Global AI Council Philippines; Lito Averia, Co-Founder of ASEAN Japan Cybersecurity Community Alliance; Atty. Richard Leo Baldueza, Secretary of Committee on Banks and Financial Intermediaries, House of Representatives; Dr. William Yu, Network Security Expert, Secure Connections; Fitzgerald Chee, Head of Consumer Platforms, BPI; and Jonathan John Paz, Enterprise Information Security Officer and Data Protection Officer, BPI. (Photo: SDN)
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MAKATI SHANGRI-LA, Makati City, July 31, 2025 — Over 230 leaders from government agencies and private organizations showed a united front here at the 2025 Bank of the Philippine Islands (BPI) CyberProtect Conference against rising cyber threats and financial fraud as they championed stronger consumer protection and cybersecurity measures.
A BPI-organized event conducted on July 30, the conference theme revolved around “Global Best Practices in Consumer Protection: New Threats, New Defenses,” and served as a platform to advance cross-sector collaboration in safeguarding Filipino consumers in an increasingly digital financial ecosystem.
In a written address by President Ferdinand Marcos, Jr., he underscored the urgency of cybersecurity in national development, calling on public and private sectors to work together in building a resilient digital economy.
“Through the strong partnership of the government, private sector, academe, civil society, and international stakeholders, we can generate and implement global best practices, policies, and programs that will reinforce trust in digital systems and guarantee our country’s cybersecurity resilience,” said President Marcos in his written message.
Read: BPI Holds 3rd Cyber Protect Conference on July 30 in Makati City
BPI President and CEO Jose Teodoro “TG” Limcaoco echoed this call, highlighting the bank’s long-standing commitment to bolstering cybersecurity through collaboration.
“At BPI, we do not take this responsibility lightly. We see ourselves as partners not only to our customers but to the nation. Together with the government, we aim to be at the forefront of this ongoing battle against cybercrime and digital risks,” Limcaoco said in his opening remarks.
Meanwhile, Jon Paz, BPI’s Enterprise Information Security Officer and Data Protection Officer, reiterated the bank’s commitment to making cybersecurity a shared journey through education and collaboration.
“Protecting our customers goes beyond securing systems — it means empowering them with the knowledge they need to stay safe online,” said Paz.
The conference featured expert-led sessions tackling critical topics such as global frameworks for fraud prevention, local and international responses to financial scams, and emerging technologies in cybersecurity. The discussions also addressed the evolving regulatory landscape, including the implementation of the recently signed Republic Act No. 12010 or the Anti-Financial Account Scamming Act (AFASA).
For his part, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Elmore Capule, one of the event’s key speakers, emphasized AFASA’s role in deterring financial fraud and reinforcing consumer confidence in digital banking.
AFASA criminalizes fraudulent activities involving bank accounts, e-wallets, and other digital financial platforms. These include schemes such as money “muling” and social engineering tactics used to deceive account holders. AFASA is designed to enhance consumer protection and uphold the integrity and trustworthiness of the country’s financial system.
“Together with our partners in government and the private sector, we are building a more robust and responsive framework to protect financial consumers and preserve the integrity of our systems,” Capule noted.
In 2024, Cybercrime Investigation and Coordinating Center (CICC) agency handled 10,004 cybercrime complaints highlighting the growing scale of the threat. The CICC noted a sharp rise from 3,317 cases in 2023 — with consumer fraud accounting for 35% of all reports and total financial losses reaching nearly Php198 million.
With the stakes higher than ever, the 2025 BPI CyberProtect Conference served not only as a knowledge-sharing platform but also as a catalyst for sustained cooperation. BPI reaffirmed its commitment to leading dialogue, advancing innovation, and strengthening cybersecurity to help build a safer, more inclusive digital future for all Filipinos. (/) — Source: BPI
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ABOUT BPI
The 173-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are licensed as a universal bank by the Bangko Sentral ng Pilipinas (BSP) to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, asset management, bancassurance, investment banking, securities brokerage, and foreign exchange and capital markets. BPI has significant financial strength, with robust Tier 1 capital adequacy ratios and profitability, underpinned by stringent compliance and risk management regimes. E-mail: Media: nmcrobles@bpi.com.ph Investors: Investorrelations@bpi.com.ph. Bank of the Philippine Islands l Ayala Triangle Gardens Tower 2, Paseo de Roxas, corner Makati Ave., Makati City 1226 PH l http://www.bpi.com.ph