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CICC, GoTyme step up collaboration to fight financial fraud

CICC and GoTyme
AGAINST FINANCIAL FRAUD. Cybercrime Investigation and Coordinating Center (CICC) Executive Director Alexander K. Ramos sealed a memorandum of understanding with GoTyme Bank Co-CEO Albert Tinio to fight financial fraud. The signing ceremony was held on May 22 at the National Cybercrime Hub in Bonifacio Global City.

The Cybercrime Investigation and Coordinating Center (CICC) and GoTyme Bank vowed to step up their collaboration to strengthen real-time safeguards against cybercrime with the expected surge in digital bank customers.

CICC Executive Director Alexander K. Ramos and GoTyme Co-Chief Executive Office Albert Tinio signed the memorandum of understanding on May 22 at the National Cybercrime Hub in Bonifacio Global City in Taguig City.

Ramos welcomed the partnership with the private sector as part of the “Whole-of-Society” approach he introduced in fighting cybercrime.

“Cyber security is now more essential to our future than ever before. It’s the line of defense for virtually everything we rely on today: financial services, healthcare, travel, personal information, and identity. In the long haul we are out to fortify and improve the country’s cyber resilience,” he said.

Even before the MOU signing, GoTyme has been closely collaborating with CICC in cybercrime awareness and education as part of Scam Watch Pilipinas.

“This MOU is a big step and acts as a warning for those committing these crimes as coordinated efforts ramp up in putting these people to justice,” Tinio said.

“To get the edge on attacks, cybersecurity professionals and governments should embrace public-private partnerships such as this,” Tinio said.

GoTyme will continue to invest in the best systems and technologies for cybersecurity and fraud management as the digital bank expects its customers to reach 5 million by the end of the year.

“We remain committed to working closely with CICC and other government agencies because cross-sector collaboration is a game changer that helps keep cyber threats in check,” Tinio underscored.

The CICC is an attached agency of the Department of Information and Communications Technology (DICT). It was created by virtue of Republic Act 10175 or the Cybercrime Prevention Act of 2012 and is the country’s lead agency in the prevention and suppression of cybercrime.

GoTyme is a joint venture between the Gokongwei group of companies and Tyme, a multi-country digital banking group. It is one of the fastest growing banks in the country, having reached 3 million customers in April 2024—only 18 months since it started commercial operation in October 2022.

Issued by the Office of CICC Executive Director Alexander K. Ramos

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