THE Securities and Exchange Commission (SEC) has signed an agreement with the Department of Information and Communications Technology (DICT) for cybercrime prevention initiatives.
The memorandum of agreement (MoA) between the SEC and DICT’s Cybercrime Investigation and Coordinating Center (CICC) is in line with the country’s Republic Act No. 10175 or the Cybercrime Prevention Act.
“Through this MoA, the commission can enhance our ability to adapt to more complex tools employed in fraudulent investment schemes so that we can implement adequate and preventive measures to avoid grave and irreparable damage to the investing public and employ the necessary detection procedures to ensure the capture of bad actors,” SEC Chairperson Emilio B. Aquino was quoted as saying.
The SEC and the CICC will be collaborating on cybercrime prevention initiatives.
The commission is tasked to provide the CICC information and data for the CICC’s programs and modules.
Meanwhile, the CICC will conduct seminars and workshops on cybercrime suppression and prosecution for the SEC. — KCGV