The Department of Justice (DOJ) is working to address digital financial crimes through collaborations with international law enforcement and private sector companies, as the country faces rising cybercrime threats.
In back-to-back engagements, the Department of Justice – Office of Cybercrime (DOJ-OOC) joined a high-level international roundtable on financial fraud detection and held a strategic meeting with representatives from GCash and the U.S. Federal Bureau of Investigation (FBI) in Manila.
From April 22 to 23, the DOJ-OOC participated in a roundtable at The Peninsula Manila on the use of open-source tools to combat online financial fraud, with a focus on scalable solutions for resource-limited rural and thrift banks.
The DOJ-OOC emphasized the importance of coordinated action between law enforcement and the financial sector to protect consumers and uphold the integrity of the financial system.
“The risks of fraud and cybercrime have increased as we shift to digital payments,” the DOJ-OOC said.
“We need scalable and affordable security solutions to ensure trust in the digital financial space,” it furthered.
In a separate meeting, the DOJ-OOC convened with representatives from GCash and the FBI to strengthen collaboration in addressing cybercrime.
The discussion focused on improving information-sharing, coordinating investigations, and developing proactive measures to detect and prevent cyber threats.
According to the DOJ, all parties stressed the need for joint efforts to confront emerging threats in digital finance and safeguard public trust in mobile platforms against financial crimes.
“The joint efforts will ensure swift action against cybercriminals and help build a more secure digital economy,” the DOJ-OOC said.
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