The financial industry remains a prime target for cyberattacks, despite the Bangko Sentral ng Pilipinas’ (BSP) new framework to enhance cyber resilience, a global cybersecurity and digital privacy company has warned.
Kaspersky, a cybersecurity firm, reported that the finance sector experiences the highest losses due to online fraud, as scammers increasingly exploit customer data for account takeovers and credit fraud. Despite the risks of fraud and money laundering, 82 percent of users continue to rely on their online banking apps for convenience, with 95 percent expressing confidence in the security of their personal data.
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Source: Manila Bulletin
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