The Bangko Sentral ng Pilipinas is deploying a new application for cybersecurity supervision

Security concerns have increased with the rise of the internet and the threat of cyberattacks that governments are trying to mitigate. The Bangko Sentral ng Pilipinas (Central Bank of the Philippines, BSP) has announced it will be implementing “a unified regtech and suptech solution that will streamline and automate regulatory supervision, reporting, and compliance assessment of cybersecurity risk management for our supervised institutions” called Advanced SupTech Engine for Risk-Based Compliance (ASTERisC*).