Held on November 28 as part of its Trade & Connect series, the event highlighted the Chamber’s advocacy for key reforms to enhance the country’s cybersecurity resilience.

“We support the passage of the Cybersecurity Act that will complement the cybersecurity efforts from the government such as the AFASA and the National Cybersecurity Plan,” BCCP Executive Director and Trustee Chris Nelson said.

“Also, our partners like CyberQ Group have reiterated the growing Filipino cybersecurity talents, and the Chamber is very keen to work with the government in improving skills and cybersecurity resilience in the country,” he added.

The event underscored the importance of AFASA, signed into law on July 20 this year, as a cornerstone of the financial sector’s cybersecurity defenses.

Bangko Sentral ng Pilipinas (BSP) Acting Director, Consumer Account Protection Office (CAPO) Atty. Alain Bert G. Regis, detailed the AFASA’s “Trident Approach,” which focuses on:

1. Criminalizing financial scams, including money muling and social engineering schemes.
2. Engaging financial institutions in fraud and risk management, temporary holding of disputed funds, and coordinated verification.
3. Empowering BSP to investigate and enforce regulations concerning financial accounts.

Department of Information and Communications Technology (DICT) Undersecretary Jeffrey Ian C. Dy outlined how AFASA aligns with the National Cybersecurity Plan 2024-2029. He emphasized a “whole-of-nation approach” to strengthen regulatory oversight and enhance government cyber responses.

The British Chamber’s ongoing collaboration with stakeholders, including the CyberQ Group Philippines, the British Embassy Manila, and the DICT, highlights its proactive role in cybersecurity advocacy.

Earlier this year, the Chamber attended the Cybersecurity Reception with His Majesty’s Trade Commissioner for Asia Pacific, Martin Kent, which explored UK-Philippines partnerships in cybersecurity.

In March, it hosted an event with CyberQ Group to address the skill gap in Manila’s cybersecurity workforce, further reinforcing its commitment to cultivating local talent.

By actively supporting these initiatives, the British Chamber continues to position itself as a key partner in advancing the Philippines’ cybersecurity posture and economic resilience.

Colliers was the venue partner and The Philippine Business and News one of the media partners of the event.

On March 20, the British Chamber of Commerce Philippines (BCCP) successfully launched its third monthly run of Trade & Connect — an event series titled  “Securing the Digital Frontier: Breaking Through Digital Boundaries” held at its venue partner, Makati Commerce Tower. 

With the aim to highlight the market opportunities in various local industries, the event was in partnership with CyberQ Group and Colliers. Several speakers consisted of cybersecurity experts from the Philippine government and the private sector including Dir. Engr. Jose Carlos P. Reyes, Director of the Cybersecurity Bureau from the Department of Information and Communications Technology (DICT), Chris Woods, Founder and CEO, Roberto Tayag, CEO-APAC, & Vishvas Nayi, Chief Solutions Architect of the CyberQ Group, and Pat Pio Fondevilla, Cybersecurity Operations Head of the Philippine National Bank.

Moreover, BCCP Executive Director/Trustee Chris Nelson emphasized the advocacies of the British Chamber and its support to the Philippine government in the passage of cybersecurity priority bills including the Cybersecurity Act, Anti-Mule Act, and the Online Site Blocking Act. Other initiatives on digitalization that further enhance its cybersecurity infrastructure and ways to improve the ease of doing business and encourage partnerships with the UK were highlighted through the use of cybersecurity. 

Noting the recently approved National Cybersecurity Plan 2024-2029 by President Marcos Jr. last 8 February 2024, as announced by DICT Secretary Ivan John Uy, DICT’s Reyes discussed the Philippine cybersecurity infrastructure and also the necessity of implementing improved regulations through a holistic approach — citing the importance of confidentiality, integrity and anonymity. 

“We are focused on establishing the ICT Academy–this is an offshoot of the Telecommunications Training Institute (TTI) and the National Computer Institute (NCI) under the Department of Information and Communications Technology. We will be launching a dedicated Cybersecurity Center of Excellence. We could not do this one without the help of our private sector,” said Reyes. 

Reyes also highlighted further improving the Philippine cyber posture in collaboration with the UK through training in various industries such as transportation, banking, health, energy, and outsourcing business processes. 

Looking at the perspectives of the CyberQ Group, Woods emphasized the Philippines’ big potential and capability in attracting cybersecurity companies to establish a cyber-resilient environment, citing that global cybersecurity spending is expected to exceed $1.75 trillion. Tayag, on the other hand, highlighted how Filipino talents in the industry are prevalent across the globe and encouraged the government to develop upskilling cybersecurity programs with the increasing demand for cybersecurity professionals which can further create more opportunities for collaboration. 

Meanwhile, Fondevilla expressed the concept of consent along with the importance of maintaining security in businesses to attain customer satisfaction. He also encouraged banks and other financial institutions to provide cybersecurity training with certain provisions to help in achieving conflict responsiveness and readiness in addressing cyber threats. 

Indeed, cybersecurity plays a huge role in various sectors and is needed to improve the overall economic environment – be it in government, business groups, and private-public partnerships. 

The Philippine Business and News (THEPHILBIZNEWS) is a proud media partner of the British Chamber of Commerce Philippines.