As a result, cybersecurity now tops corporate priorities, with 93% of organizations in the Philippines saying that cybersecurity is extremely important or more important than before the pandemic.
Under the proposed rules, a regulated entity must create a management group called the Information Security Group (InfoSec Group), separate from its existing Information Technology Group, and appoint a Chief Information Security Officer.
Between January and June 2020, the number of DDoS attacks affecting educational resources increased by at least 350% when compared to the corresponding month in 2019.
Cybersecurity firm Kaspersky said this trend is happening because of “Industry 4.0” or the “digitalization of industries” and is aided by current technologies including Internet of Things and 5G.
Online crimes and threats were prevalent during the earlier days of the community quarantine but these were sufficiently addressed by local banks and other financial institutions, the Bangko Sentral ng Pilipinas (BSP) said.