GoTyme Bank, a collaboration between the Gokongwei group of companies and the multi-country digital banking group Tyme, recently signed a Memorandum of Agreement (MOA) with the Philippine National Police Anti-Cybercrime Group (PNP ACG) in a bid to crack down on cybercriminals and bring them to justice, further strengthening defenses against online threats. 

The MOA was signed on September 30, 2024 at the PNP ACG office in Camp Crame by GoTyme Bank co-CEO Albert Tinio and PNP ACG Director Police Major General Ronnie Francis M. Cariaga. 

The PNP ACG is tasked to enforce pertinent laws on cybercrime and other digital crimes in pursuit of an effective cybersecurity campaign. Cariaga, who assumed the PNP ACG directorship in April this year, said, “Our intensified operation…has yielded positive results, with a notable decrease in reported cybercrime cases. This success can be attributed to our strong partnerships with the private sector, internet intermediaries, and law enforcement agencies. We remain steadfast in our pursuit of cybercriminals and are committed to creating a safer digital environment for everyone.” 

GoTyme Bank has established a dedicated fraud and crime prevention division under the leadership of former fraud strategy head Jason Brasileño. The division will focus on enhancing fraud detection, prevention, and prosecution efforts. To strengthen its capabilities, GoTyme is also in a partnership with the Cybercrime Investigation and Coordinating Center (CICC) to improve real-time cybercrime protection. It is also collaborating with other government agencies, including the National Bureau of Investigation and Department of Justice, to “catch the thieves.”

Multifront campaign, improved strategies

Cariaga has called upon the government and the private sector “Working together, we are harnessing our collective expertise and passion to tackle the challenges of the digital age. Our joint efforts will lead to effective strategies and technologies to address cyber financial threats.”

He stressed that this MOA is more than just a contract or a receipt, it is a pledge to collaborate in the mission to strengthen cybersecurity and represents a crucial step forward in our collective efforts to combat cybercrime and protect our digital economy.

“As we are bound to take a significant step forward in our commitment to a safer, more secure digital landscape, we hope that the MOA between GoTyme Bank and PNP ACG will serve as a beacon of our resolve to make a significant and meaningful difference as well as to build a future where all voices are valued and opportunities are within our reach, especially in the digital era,” Cariaga said.

For its part, GoTyme Bank is actively collaborating with government agencies, banking industry associations, and law enforcement to enhance anti-fraud legislation and investigative capabilities. Internally, the bank is strengthening customer protection through an improved Know Your Customer (KYC) process and leveraging advanced AI technology to identify suspicious activities. The bank remains committed to human interaction, ensuring customers can always speak to a live agent.

Tinio said, “Security and safety are paramount in our mission to deliver simple, convenient banking to Filipinos. To this end, we continuously invest in cutting-edge cybersecurity and fraud prevention measures. Alongside our technological advancements, we prioritize public education on scam prevention and reporting. By collaborating closely with the PNP ACG and other government agencies, we believe that a united front is essential to effectively combat cyber threats.”

Act quickly and stay informed

If you suspect a scam, GoTyme Bank encourages immediate action by reporting the incident to the sending bank and to the GoTyme Bank hotline #GO8888. It also reminds its customers to file a police report as soon as possible. 

It maintains a two-pronged approach to security: advanced technology, with substantial investments in cutting-edge security measures; and continuing user education that empowers customers with knowledge to identify and report scams.

Tinio added, “We believe that empowering our users with knowledge and a straightforward reporting process is crucial in creating an environment where scammers find it increasingly difficult to operate. A well-informed and alert customer base acts as a strong deterrent to scammers targeting GoTyme.”