Bangko Sentral NG Pilipinas (BSP) Circular 982

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How to Improve Your Compliance Posture with Identity-Centric PAM

In an era when cyber-attacks have become common occurrences, it's vital for the Banking, Financial Services, and Insurance (BFSI) industry in the Philippines to improve its cyber resilience and implement a robust cybersecurity framework. In this context, the Banko Sentral NG Philippines (BSP) developed detailed guidelines for Banks and Non-Bank Financial Institutions to follow. However, becoming and staying compliant in today’s dynamic threatscape is often challenging. In this white paper, we will discuss the current challenges faced by the BFSI industry in the Philippines and the BSP mandates (e.g., Circular 982) to secure information assets to minimize their constituents’ exposure to both external and internal cyber-attacks.