FINEX tackles cybercrime issue with BSP Governor

Philippine Daily Inquirer August 09,2017

Mr. Ned Goseco, FINEX EVP, Grace Palma Tiongco, FINEX VP Professional Development Committee & Mr. Joey Regala, VP-Information Security Dept. of UCPB

“The Rising Threat of Cybercrime” was a recent theme of a FINEX (Financial Executives Institute of the Philippines) forum held at the Dusit Thani Hotel.

Newly-designated BSP Governor Nestor Espenilla Jr. was the main speaker who spoke on the opportunities and risks in the evolving cyberworld today. He said that the detection and prevention of cybercrime especially in its regulated industry like banking was one of his new administration’s major concerns.

Espenilla said new memoranda and amendments to recent BSP policy issuances will be regularly undertaken. The new policies released in the first quarter of 2017 include BSP Circular 958 (Multi-Factor Authentication Techniques), BSP Circular 951 (Business Continuity Management Guidelines) and BSP Circular 949 (Social Media Risk Management Guidelines).

Various BSP Memoranda had also been issued covering EMV Migration, Phishing and Fraudulent Websites and Ransomware and other malware attacks, among others.

Also discussed was the BSP’s own CyberSecurity Risk Management Process. Meantime, Manuel Joey A. Regala, (Vice President of UCPB) revealed that banks have banded together to make a collective effort to create a defense mechanism from cyber attacks on client and bank accounts.

Mr. Simoun Ung, President, Omnipay Inc. Domeng Go, Finex Member, Billy Cortez, Co-Chair Professional Development Committee, Ned Goseco, FINEX EVP, Bingo Dejaresco FINEX Chair Professional Development Committee, Stephen Cutler, Consultant, Omnipay Inc., Grace Palma Tiongco, FINEX VP Professional Development Committee, Mike Guarin, Vice Chair Professional Development Committee.

On the other hand, Stephen Cutler, a senior consultant of Omnipay, one of the world’s largest payment solution providers, gave possible solutions to the problems encountered in cyberworld both in the local and international scenes.

Among the panelists were: Roland V. Oscuro, SVP, Senior Information Officer and Data Privacy Officer of the PNB, Grace Palma Tiongco who is FINEX VP-Professional Development and a Director, and Atty. Billy Cortez (Co-Chair of the Professional Development Committee) and Independent Director of the First Metro Investment Corporation.

Mr. Ned Goseco, FINEX EVP, Bangko Sentral ng Pilipinas Gov. Nestor A. Espenilla Jr., and Grace Palma Tiongco, FINEX VP Professional Development Committee

Zoilo “Bingo” Dejaresco III, Chair of the FINEX Professional Development Committee welcomed the guests and speakers. Michael Guarin, Vice Chair of the Committee (Partner, KPMG R.G. Manabat and Co) served as Master of Ceremonies.

The Forum was the committee’s third this year—preceded by a forum on PERA and an Economic Briefing.

Mr. Ned Goseco, FINEX EVP, Grace Palma Tiongco, FINEX VP Professional Development Committee & Mr. Roland Oscuro, SVP and Chief Information Officer & Data Privacy Officer of PNB

L-R: Bingo Dejaresco,FINEX Chair, Professional Development Committee, Atty. Billy Cortez, Co-Chair of FINEX Professional Development Committee, Ms Grace Palma Tiongco, FINEX VP-Prof’l. Dev’t. Committee, Gov. Nestor Espenilla Jr., BSP Governor, Gay Santos, FINEX member, Professional Development Committee, & Mike Guarin, FINEX Vice Chair Professional Development Committee.

Mr. Stephen Cutler, Consultant of Omnipay Inc., Co-Chair of FINEX Professional Development Committee, Ms Grace Palma Tiongco, FINEX VP-Professional Development, Mr. Mhel Plabasan, Head– Core information Technology Specialist Group of BSP, Mr. Joey Regala, VP-Information Security Dept. of UCPB and Mr. Roland Oscuro, SVP and Chief Information Officer & Data Privacy Officer of PNB.

Bangko Sentral ng Pilipinas Gov. Nestor A. Espenilla Jr. speaks during the seminar on “The Rising Threat of Cybercrime”.

Ms. Teresita Herbosa, Chair, Securities & Exchange Commission with Domeng Go, FINEX member PDC

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