The government is taking proactive measures to combat the rise in cyberattacks against the country’s financial institutions, Presidential Communications Undersecretary and Palace Press Officer Claire Castro said on Thursday.

Castro reassured the public that the government would raise awareness about the PhP528 billion in losses financial institutions incurred from cyberattacks in 2024, representing a 2.6-percent increase from the PhP526 billion reported in 2023.

Castro said that as cybercrime tactics evolve, the government’s efforts and regulations must also be updated to counteract cyber threats effectively.

“Kasi po nag-e-evolve po talaga ang paggawa ng krimen. So, kailangan din po ang mga proyekto natin, iyong ating mga panuntunan dito ay dapat nag-a-upgrade din po,” she said.

Castro requested that banks and financial institutions revise their internal policies on online transactions and operations to protect against potential cyberattacks.

Castro urged the financial sector to create infomercials and awareness campaigns to educate the public on preventing scams and cybercrimes.

“In line with that, atin din pong hinihikayat na magkaroon din po ang mga bangko, mabago ang kanilang mga internal policies patungkol po dito at tayo din po ay magkakaroon ng mga infomercials at mga information dissemination patungkol po sa paano maiiwasan ng taongbayan ang ma-scam,” Castro said. | PND