Myth vs. Fact: What You Need to Know About the 2025 BPI CyberProtect Conference

Myth: Cybersecurity is only a tech issue.
Fact: The 2025 BPI CyberProtect Conference showed that cybersecurity is a shared responsibility across government, private sector, and civil society. Education and policy play just as big a role as technology.

Myth: The government is slow to respond to digital fraud.
Fact: The recently signed Anti-Financial Account Scamming Act (AFASA) proves that lawmakers are taking concrete steps. It criminalizes schemes like money muling and social engineering to better protect consumers.

Myth: Banks handle cybersecurity internally and rarely collaborate.
Fact: BPI led the conference as a platform for collaboration, with over 230 leaders from multiple sectors joining to create a unified defense strategy.

Myth: Ordinary users don’t need to worry about cyber threats.
Fact: In 2024 alone, consumer fraud made up 35 percent of over 10,000 cybercrime complaints. BPI emphasized that awareness and education are essential for everyday Filipinos.

Myth: Cybersecurity laws are outdated and ineffective.
Fact: AFASA is designed for modern threats, targeting digital fraud on platforms like e-wallets and online banks. It’s a timely tool for today’s financial ecosystem.

Myth: Once laws are passed, private companies can relax.
Fact: BPI President TG Limcaoco said the bank is doubling down on its commitment by working with regulators and continuing to innovate on customer protections.

Myth: Cybersecurity is only about protecting systems.
Fact: According to BPI’s Jon Paz, it’s also about protecting people. Educating customers is just as critical as deploying secure platforms.

Myth: The Philippines lags in international cybersecurity standards.
Fact: The conference featured global experts and frameworks, showing that local institutions are integrating international best practices into their strategies.

Myth: Collaboration is just for show.
Fact: From the Bangko Sentral ng Pilipinas to the academic community, real multi-sector partnerships are forming to address the evolving cyber threat landscape.