The BSP is crafting cybersecurity policies that will require banks and other financial institutions under our supervision to adopt even more robust technology risk management systems and effective cybersecurity resilience controls and measures. The BSP recognizes that improved legislation will allow it to better address cybersecurity risks and combat cybercrimes.
We continue to support the passage of various legislative reforms that will put more teeth into the country's fight against cybercrimes and increase confidence in the digital financial system.