Data is new digital currency, says Trend Micro

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[/caption] Trend Micro, which is headquartered in Tokyo but maintains a regional lab in the Philippines, said in a recent press briefing that data passing through the Internet have become the main target of cyber-criminals in recent years. In fact, Myla Pilao, director for core technology marketing at Trend Micro, presented during the briefing a few graphs (see below) the supposed equivalent value for a specific kind of stolen data. For instance, it can be seen in the table that a stolen US-based credit card number has an estimated amount of P43 to P129 in 2012. These figures are notably lower in value compared in 2009. Still, Pilao said the threat poses a big danger to Filipinos who are one of the most ?connected? people in the world in terms of penetration for Facebook (8th) and smartphone (64 percent). Pilao also underlined the growing number of Filipinos using online banking, which involves very sensitive information. She pointed out that although only nine percent of the local online population is into online banking, this is already a big leap from the previous rate when the number of users only hovered between four to five percent. Pilao also said that while cybercrime laws are laudable, she stressed that cybercrimes are usually borderless in nature, thus it is very hard to follow the money trail. ?The reality is cybercrime law is hard to enforce. Technology happens so fast that it renders these laws obsolete,? she said. ?The best defense is still detection and prevention.? Trend Micro, which is distributed in the country by MSI-ECS, also said during the event it is eyeing to grow by 50 percent over the next three years.]]>

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