Digital bank Maya and loan app JuanHand have teamed up with government agencies to launch Protecta Fintech, an initiative designed to address cybercrime in the fintech industry.
Protecta Fintech unites the Cybercrime Investigation and Coordinating Center (CICC), the Department of Trade and Industry, the Department of Justice, the Securities and Exchange Commission, the Philippine National Police, and private-sector leaders.
The collaboration aims to address digital fraud, which has surged as more Filipinos embrace online banking and payments.
“By working with both government and private sectors, we are creating a more secure digital financial ecosystem that supports fairness, innovation, and empowerment for all Filipinos,” said Francisco Roberto D.C. Mauricio, lead advocate of Protecta Fintech and president and CEO of JuanHand.
The initiative focuses on educating consumers about scams like phishing and vishing, upgrading security tools, and ensuring compliance with regulations.
“Every Filipino should feel confident using digital tools to manage their money,” said Kristoffer Rada, head of Government Relations and Regulatory Affairs at Maya.
He also warned against clicking on links in text messages, noting that many banks and telcos now block messages containing links.
“If you see one, it’s a scam,” he added.