The Department of Justice (DoJ) and industry group Bankers Association of the Philippines (BAP) have signed on Friday a memorandum of understanding (MoU) to raise cybersecurity awareness and combat cybercrime in the Philippines.

The BAP said the goal of the MoU is to strengthen the banking industry's cyber-resilience and develop a collaborative partnership with the Justice department to achieve a collective, coordinated, and strategic cyber response through information sharing and collaboration in the wake of rising cybercrime incidents in the country.