Banking system vulnerable to hack attacks - Recto

THE threat of cyber attacks on the Philippine banking system is serious and unless the government does something to protect it, there is no stopping hackers penetrating the system just like what happened to a Bangladesh bank, Senate President Pro-Tempore Ralph Recto warned Sunday.

Recto said Congress already introduced a measure that aims to help protect the country’s banking system and it is now up to Malacañang to enact it. He was referring to the recently-approved bill creating the Department of Information and Communications Technology (DICT) which will be responsible for the formulation of a National Cybersecurity Plan and form the National Computer Emergency Response Team.