The British Embassy Manila – Department for International Trade (DIT) in partnership with the Bankers Association of the Philippines (BAP) held the virtual UK-PH Cyber Security Forum on 11 March 2022 to discuss the growing relevance of Cyber Security in the country. DIT Country Director Richard Colley shared that the forum “aims to help forge relationships and build connections between the UK and the Philippines and work together in addressing cyber security risks. The UK is open to collaborate internationally especially with countries that share our values of democracy and transparency, like the Philippines.”
The strategic relevance of the ASEAN region, including the Philippines, makes it a prime target for cyberattacks. The growth in trade, capital flows, and cyber linkages between the Philippines and other countries implies that its cyber threat landscape will become even more complex in the future, further escalating its cybersecurity vulnerabilities. Mr Ramon L Jocson, Vice-Chairman of the BAP Cyber Security Committee talked about the cyber threats that Philippine banks and financial intermediaries are facing including the prevalence of ransomware and supply chain attacks, but also shared BAP’s initiatives and collaboration with Government and public agencies to address cyber issues.
The National Cyber Security Centre (NCSC), UK’s think tank and implementer of cyber strategies and programmes shared how the organisation plays its role in supporting the Financial Services Sector and presented its 2022 National Cyber Strategy which underscores the Government’s action to protect its citizens, companies and international partners. NCSC also explained how they help realise the vision of cyberspace as a reliable and resilient place for people and business to flourish.
To demonstrate the UK’s capabilities and cyber security solutions, three cutting edge companies presented their technologies during the forum and explained how they can further support the Philippines in becoming cyber-resilient in the fast moving digital world. To date, many UK tech companies are already working with Philippine partners and clients, but there are still many opportunities for collaboration, particularly on cyber security.
