GoTyme Bank, a digital bank, has partnered with the Department of Justice (DOJ) to boost efforts against financial fraud and cybercrime in the Philippines. The partnership, formalized through a Memorandum of Agreement (MOA) signed at the DOJ headquarters, emphasizes collaboration to improve law enforcement strategies and protect the public from digital threats.
“Scams continue to widen in all forms, and fraudsters seem to operate with impunity,” said Albert Tinio, Co-CEO of GoTyme Bank. “We are happy that the DOJ has given us a chance to partner with them to show the public that we have a united front against all these scammers and fraudsters.”
The bank, a joint venture between the Gokongwei Group of Companies and Tyme Group, has pledged to strengthen its cybersecurity defenses.
Tinio noted that GoTyme Bank uses advanced artificial intelligence (AI) to detect suspicious activities and refine customer verification processes.
“To safeguard our customers, we’re continuously refining our customer identification procedures and utilizing cutting-edge AI to spot potential fraud,” Tinio said. “However, we believe in the value of human interaction and ensure customers can always speak directly with a dedicated agent,” Tinio added.
“This MOA underscores the importance of collaboration between the public and private sectors in ensuring a safe and secure digital environment for all Filipinos,” said Assistant Secretary Atty. Jose Dominic Clavano IV of the DOJ. “Together, we aim to improve the prevention, detection, and prosecution of crimes related to financial fraud.”
This initiative aligns with the implementation of the Anti-Financial Account Scamming Act and highlights the shared goal of both organizations to protect Filipinos from evolving cyber threats.