BSP Cybersecurity Compliance:

Navigate BSP Cybersecurity Requirements for Financial Institutions

The BSP has significantly tightened cybersecurity requirements for all supervised financial institutions:​

• BSP Circular No. 1213 (June 2025): Mandates phishing-resistant, device-bound authentication for all BSP-supervised entities (banks, fintechs, payment providers, lending firms). Requires Fraud Management Systems (FMS), strong authentication, and account protection measures. Compliance deadline: June 2026.
• Financial Services Cyber Resilience Plan (FSCRP) 2024–2029: Strategic goals to bolster financial sector defenses against cyber threats.

Gardoce Services:

• BSP Circular 1213 compliance gap assessment
• IT risk management framework development
• Authentication system upgrade advisory (FIDO2, passkeys, biometrics)
• Fraud Management System design consultation
• FSCRP alignment and resilience planning
• BSP examination preparation