The Bank of the Philippine Islands (BPI) is ramping up its cybersecurity framework and advancing responsible digital banking at a time when digital services have become central to daily financial life. Cybersecurity at the bank is framed as a continuous, proactive effort rather than just reacting to incidents, requiring ongoing upgrades to defenses, anticipation of new threats, and close collaboration across the broader financial ecosystem. Jon Paz, BPI’s Head of Enterprise Information Security and Fraud Risk Management, says that protecting customers goes beyond securing transactions—it also means helping people understand and guard against online risks.
Industry data shows social engineering tactics make up nearly 39 percent of all fraud transactions and 36 percent of related financial losses, with voice scams known as vishing being the most common at over 21 percent of reported incidents, followed by malware, smishing, and phishing. BPI partners with the Philippine National Police Anti-Cybercrime Group and the Department of Information and Communications Technology to raise public awareness and combat online fraud, while aligning all practices with the country’s Anti-Financial Account Scamming Act.
For added protection, the bank has rolled out enhanced features across its digital platforms, including stronger device-based authentication instead of traditional one-time passwords, waiting periods for high-risk account changes to catch unauthorized activity, checks that block access from potentially unsafe devices or connections, and privacy safeguards that limit how personal details appear during transfers. Fitz Chee, BPI’s Head of Consumer Platforms, notes that technology alone is not enough—building digital awareness and confidence is key to helping customers stay secure.
For depositors, the layered measures mean better protection for savings, personal information, and daily transactions, alongside clearer guidance to spot and avoid scams. For shareholders, consistent investment in cybersecurity helps preserve the bank’s operational stability, protects its reputation and customer trust, and ensures long-term value by lowering financial and legal risks associated with cyber threats. Together, these efforts support a safer, more reliable digital banking experience for all BPI stakeholders.
