Finance Secretary Carlos G. Dominguez III vowed to hunt down Nigerian cybercriminals who stole P167 million from state-run United Coconut Planters Bank (UCPB) last June and ordered the government financial institutions (GFI) to tighten their security measures.

Dominguez divulged they are working closely with law enforcement, the Bangko Sentral ng Pilipinas (BSP), and other concerned agencies since mid-June to safeguard GFIs and the banking system, pursuing that “the perpetrators are caught, tried, and punished to the fullest extent of the law.”

Dominguez also assured the public that the GFIs are “consistently updating the security of their databases, servers, devices, and software to respond to new threats and vulnerabilities.” BSP also told UCPB depositors that their money is safe.


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