Number of Pages : 60 leaves
Adviser : Prof. Ma. Elizabeth A. Francisco
Abstract
With the rapid transformation in information and communications technology (ICT), the way we live have drastically changed. There are rising dependencies on these technologies that include critical functions of industries and industry control systems. The Philippine government has created the Department of Information and Communications Technology (DICT) in 2016 and through its attached agency, the Cybercrime Investigation and Coordination Center (CICC), adapts to the latest standard with the broad National Cybersecurity Strategy Framework.
The financial services industry (banking and finance) has been identified by DICT as one of the critical infrastructure through the department's issuance of Memorandum Circular No. 007 on Prescribing the Policies, Rules and Regulations on the Protection of Individuals Stipulated in the National Cybersecurity Plan (NCP) 2022.
This Study is conducted to evaluate the current state of Cybersecurity in the Philippine financial services industry with major reference to the BSP, NCP and relevant standards. This aims to promote awareness on key areas that need to be addressed such as in assessing the Sources of threats and cyber threat landscape, Law and public policy on cybersecurity, Protection mechanisms, Collaboration and the Future of cybersecurity in the Philippine financial services industry.
The study also evaluates similar studies in different scope and period such as State of Cybersecurity in 2017 covering the globe and Southeast Asia conducted by various reputable organizations. The Study will assess its applicability in the Philippines and how it affects the current status of cybersecurity measures and extent of implementation in the financial services industry.
This paper also discusses the methodology to be used, which a mix of conceptual framework employed to conduct this research study and a formidable project management approach to ensure the smooth execution of this project.
Moreover, the qualification of the researcher is also presented to signify the competencies needed for the successful completion of this project. Deliverables and other milestones are well presented to enlist all of the outputs expected and manage the timeline and duration per deliverables. Project activities are also identified in detail to ensure that a work breakdown will support the seamless execution and avoid potential delays.
Additionally, a project methodology is presented to visually depict the indicative techniques and approaches used by this Study. Together with this, reference frameworks were also prepared to determine the guidance needed to execute the assessment and objectives of this Study.
Lastly, a comprehensive results and analyses based on the scope and assessment areas determined from the data gathered with illustration on the current state, how it affects the financial services industry in the Philippines, and high-level recommendations and conclusion by the Researcher.
The financial services industry (banking and finance) has been identified by DICT as one of the critical infrastructure through the department's issuance of Memorandum Circular No. 007 on Prescribing the Policies, Rules and Regulations on the Protection of Individuals Stipulated in the National Cybersecurity Plan (NCP) 2022.
This Study is conducted to evaluate the current state of Cybersecurity in the Philippine financial services industry with major reference to the BSP, NCP and relevant standards. This aims to promote awareness on key areas that need to be addressed such as in assessing the Sources of threats and cyber threat landscape, Law and public policy on cybersecurity, Protection mechanisms, Collaboration and the Future of cybersecurity in the Philippine financial services industry.
The study also evaluates similar studies in different scope and period such as State of Cybersecurity in 2017 covering the globe and Southeast Asia conducted by various reputable organizations. The Study will assess its applicability in the Philippines and how it affects the current status of cybersecurity measures and extent of implementation in the financial services industry.
This paper also discusses the methodology to be used, which a mix of conceptual framework employed to conduct this research study and a formidable project management approach to ensure the smooth execution of this project.
Moreover, the qualification of the researcher is also presented to signify the competencies needed for the successful completion of this project. Deliverables and other milestones are well presented to enlist all of the outputs expected and manage the timeline and duration per deliverables. Project activities are also identified in detail to ensure that a work breakdown will support the seamless execution and avoid potential delays.
Additionally, a project methodology is presented to visually depict the indicative techniques and approaches used by this Study. Together with this, reference frameworks were also prepared to determine the guidance needed to execute the assessment and objectives of this Study.
Lastly, a comprehensive results and analyses based on the scope and assessment areas determined from the data gathered with illustration on the current state, how it affects the financial services industry in the Philippines, and high-level recommendations and conclusion by the Researcher.
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