I have been to Baguio a few times and as far as I know there is no problem with bandits, always felt safe there, and cool.
We always either drive ourselves with a hire car or people carrier or hire a man+van, the buses frighten the life out of me. They are fast and we are constantly overtaken by them on the mountain roads.
You have more chance of meeting bandits in Boracay, they are called Hoteliers or touts