More Safeguards Set Up to Protect Financial System Against Hacking

The Bangko Sentral ng Pilipinas (BSP, Philippine central bank) has approved the creation of a new division under the information technology (IT) supervision group that will focus on examining banks’ firewalls. The new division will be composed of IT experts trained to evaluate, examine, and conduct surveillance work on banks and other BSP-supervised institutions in terms of their safeguards. The BSP is also working on additional rules to…

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