Cybercrime-as-a-Service (CaaS) providers continue to represent the majority of bad actors, and Fortinet expects that these groups will increasingly focus on specialization, offering services that target specific segments of the attack chain.
Almost half of the world’s most common passwords this year are made of the easiest keyboard combinations of numbers and letters, for instance “qwerty,” “1q2w3e4r5t,” and “123456789.” The Philippines is no exception, with such passwords leading the list.
Two local technology groups have called on the fintech industry, particularly e-wallet firms, to institute stronger cybersecurity measures and consumer protection in the wake of recent unauthorized fund transactions on the GCash e-wallet platform.
The Bangko Sentral ng Pilipinas (BSP) has instructed GCash to immediately resolve the reported unauthorized deductions on account balances of affected GCash users and swiftly complete the process of refunds.
Before GCash came out with the statement that the issue was caused by “system reconciliation”, Manila Bulletin columnist Arturo Samaniego Jr., who was implicated recently by the National Bureau of Investigation (NBI) as a hacking mastermind, again tried to muddle the issue by claiming in his Facebook post that the losses experienced by GCash users was due to a phishing attack.
Using ‘fake cell towers’, scammers are able to bypass telco networks to send SMS directly to mobile users, and can even use legitimate company names as the sender name.
Based on Comelec Resolution 11064 promulgated in September 2024, cheapfakes refer "to forms of visual disinformation for which authentic images or videos are re-contextualized to deliberately alter their meaning.”
