As the Philippines faces challenges posed by the increasing sophistication of cybersecurity threats and fraud, Asialink Finance Corporation and other industry leaders joined forces to explore ways to address the problem, in the recent General Membership Meeting of the Philippine Finance Association (PFA) held in Mandaluyong City. Themed with “Cybersecurity, Fraud Prevention, and Detection: New Realities We Face Today,” the gathering underscored the urgent need for strong security measures within the financial sector.
“In this era of digital transformation, we recognize the critical importance of protecting our financial systems and the data entrusted to us,” said Asialink Finance Corporation’s President and COO, Eillen “Apples” Mangubat, who currently serves as the President of PFA. “Adapting technological advancements to enhance cybersecurity is crucial for protecting sensitive information and maintaining trust,” Mangubat said, urging all financial leaders to prioritize the need for more secure systems.
Photo op during PFA General Membership Meeting held at One Shangri-La Place, Mandaluyong City
The event also featured renowned keynote speakers who shared their expertise on data protection and best practices in combating cybersecurity threats. A series of lectures and panel discussions covered a range of topics including risk management, regulatory compliance, and the integration of artificial intelligence in cybersecurity.
One of the key highlights was the presentation by Vaibhav Khandelwal, Director of Fraud Prevention of APAC at Group-IB from Singapore. He discussed the latest techniques in threat detection and response and advised the updating of security protocols and investing in the latest technology.
Clint Wills, a global business tech expert, said that effective fraud risk management goes beyond technology as it requires a culture of vigilance and adherence to regulatory standards. Moreover, Cesar C. Santos Jr., the Managing Director of the Bankers Association of the Philippines Data Exchange (BAP-DX) highlighted the successes of the BAP-DX in fostering a secure and efficient exchange of information between banks, which has been instrumental in identifying and mitigating fraudulent activities.
As a key stakeholder and partner of PFA for over a decade, Asialink Finance Corporation’s Eillen Mangubat has actively supported the association’s activities and initiatives. She believes that combatting these threats require a united front. The company focuses on educating its employees about best practices in data protection through regular workshops and training sessions. Asialink ensures its employees are well-equipped to handle cybersecurity challenges, highlighting the company’s commitment to protecting its clients and ensuring the integrity of its operations.
“At Asialink, we prioritize educating our employees about these threats and continuously upgrade our cybersecurity measures to protect our organization’s data and maintain our clients’ trust,” as Mangubat emphasized Asialink’s dedication to cybersecurity extends beyond technological solutions. “We must be proactive, not reactive, in our approach to cyber threats. By working together and staying vigilant, we can protect our industry and the millions of Filipinos who rely on us,” said Mangubat, as she concluded the event with a call to action for all financial institutions to prioritize cybersecurity.
