MANILA – As part of a unified effort to combat internet fraud, the Department of Justice (DOJ) and a bankers’ association will draft a memorandum of understanding (MOU).
Pending the approval of the MOU, the agency has been consistently cooperating with the Bankers Association of the Philippines (BAP) through capacity building and public awareness on cybercrime, DOJ Office of Cybercrime (DOJ-OOC) officer-in-charge lawyer Charito Zamora said.
“The collaboration eyes achieving the common goal of establishing a collective, coordinated, and strategic cyber response within the banking industry through information sharing and collaboration,” she told reporters via text message on Monday.
“To this end, an MOU between DOJ and BAP is being finalized to establish a formal agreement that would promote a genuine atmosphere of collaboration and alliance through an effective and efficient partnership meant to curb cybercrime and cyber-related offenses nationwide,” she said.
Depositors of a universal bank recently lost money as a result of an internet fraud involving a transfer to another bank, evading the security measure of sending a one-time PIN (Personal Identification Number) to the account holder’s registered mobile number.
The bank assured them that their money will be returned.
In a November report, Ramon Jocson, vice chair of the BAP cybersecurity committee, stated that banking fraud during the pandemic reached PHP1 billion in fraudulent withdrawals and transfers.
The OOC was established under the DOJ by Republic Act 10175, or the Cybercrime Prevention Act of 2012, and was designated as the central authority for international mutual assistance and extradition for cybercrime and cyber-related matters.
It also serves as the focal agency for law enforcement investigation and prosecution tactics aimed at curbing cybercrime and cyber-related offenses across the country.
Among other functions, the OOC can demand the police and the National Bureau of Investigation to submit timely and regular reports, including pre-operation, post-operation, and investigation results, as well as other documents for monitoring and evaluation.
