UPDATE 2-Philippine central bank bolsters cyber security, may regulate bitcoin operators

  • The Philippine central bank revoked the license of Philrem Service Corporation, a remittance company that anti-money laundering investigators said was used to transfer some of the $81 million hackers looted from the Bangladesh central bank.
  • Policymakers were also looking at tightening regulations for remittance companies and money changers, and regulating operators of virtual currencies to boost efforts to combat money laundering, he said.
  • The Philippine central bank has set up a separate cyber security surveillance division to craft cyber security policies and conduct surveillance work, monitor cyber threats and test the ability of supervised institutions to manage cyber security issues, Nestor Espenilla central bank deputy governor in charge of banking supervision, said in a lecture organized by the bank.
  • CEBU, Philippines, June 4 (Reuters) – The Philippine central bank is bolstering cyber security surveillance to help boost banks’ defenses and is looking at regulating bitcoin operators to combat money laundering, a senior official said on Saturday.
  • More banks around the world have fallen victim to cyber attacks that involved the use of fraudulent SWIFT messages, the same technique at the heart of February’s massive theft from the Bangladesh central bank.

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@coindesk: “Reuters – Philippine Central Bank Bolsters Cyber Security, May Regulate Bitcoin Operators by @karenlema”


CEBU, Philippines, June 4- The Philippine central bank is bolstering cyber security surveillance to help boost banks’ defenses and is looking at regulating bitcoin operators to combat money laundering, a senior official said on Saturday. More banks around the world have fallen victim to cyber attacks that involved the use of fraudulent SWIFT messages, the same…


UPDATE 2-Philippine central bank bolsters cyber security, may regulate bitcoin operators