cybersecurity

The BSP said it recently completed the Advanced SupTech Engine for Risk-Based Compliance (ASTERisC*), which will soon be deployed among selected BSP Supervised Financial Institutions (BSFIs).

Philippine companies paid $1.6 billion on average through the nose for ransomware attacks in 2022, making the country the third most-extorted by ransomware in the world next only to Japan and the Netherlands, according to cybersecurity firm Sophos.

However, the cost of increased security is oftentimes frustration and disengagement on the part of consumers.

Microsoft explained that the RaaS economy provides even malicious users with little technical expertise access to ransomware payloads, data leakage, and payment infrastructure. Cybercriminals can buy and use multiple RaaS programs such as Conti or REvil, and switch between them as needed. This market for ransomware services has created an entire industry with its own middlemen, including brokers and other specialized roles.

Enterprise security software provider Trend Micro announced the official entry of its unified cybersecurity platform ‘Trend Micro One’ which will encompass several of the company’s key business segments under one umbrella platform.   

A new study from e-security firm Kaspersky is urging the Philippines to take a more active stance in prioritizing cybersecurity against the backdrop of constantly evolving cyber threats.

The BSP urged banks instead to personalize SMS messages and emails for banking services and implement mandatory notifications for fund transfers exceeding a predefined amount.

The Manila site for Kroll is considered an important hub in the company’s expansion strategy in the Asia Pacific region and represents their commitment in making the Philippines a vital component in their overarching global growth strategy.

As the digital landscape in the Philippines continues to evolve, a large chunk of enterprise attack incidents are still being proliferated through malicious links and attachments embedded in emails.

As Covid-19 increasingly drives work and leisure activities towards online platforms, Asean organizations predict that the one cybersecurity trend businesses need to pay attention to the most in 2022 will be for cyberattacks to affect personal safety.