AS CYBER threats continue to evolve and become more sophisticated, a player in the industry is urging businesses, big and small, to prioritize cybersecurity and take proactive measures to protect their digital assets.
Renn Nograles, president and general manager of 888 Tech Exchange Ventures, said the Philippines is still in its nascent stage in protecting itself from cyber threats, making it susceptible to an array of digital threats.
He emphasized the critical importance of raising awareness about cybersecurity among local enterprises as cybercriminal activities are becoming rampant and sophisticated these days.
“It’s not a matter of whether your business will be hacked or not, it’s only a matter of when,” Nograles said. His company 888 Tech Exchange Ventures is helping firms in Cebu with cybersecurity solutions.
Equip IT employees
Nograles said local businesses should equip themselves with advanced cybersecurity tools, upskill their information technology (IT) employees and hire cybersecurity professionals to protect their data and operations. He said companies must stay abreast of the latest advancements in the cybersecurity space, as cybercriminals continually evolve their tactics and techniques.
Cyber-attacks have become a significant concern for businesses, as falling prey to them can cause financial losses, damage to reputation and disruption of operations.
Cybersecurity event
To combat these threats, 888 Tech Exchange Ventures, in collaboration with American cybersecurity company Resecurity is mounting an event dubbed Cyberthreat Intelligence: Evolving Risks on Thursday, April 18, 2024, at the Fairfield by Marriott Cebu in Mandaue City.
Resecurity is a cyber security company that provides a unified platform for endpoint protection, risk management and threat intelligence for large enterprises and government agencies worldwide.
The event will gather key leaders from various sectors of the business community, including financial institutions, government agencies, utilities, and academe, along with corporate information technology specialists. The activity will zero in on the latest cybersecurity trends and explore how cybersecurity professionals can effectively leverage available tools to safeguard their organizations.
Nograles said education and awareness are paramount in effectively addressing threats in the digital space.
By prioritizing cybersecurity, Nograles said businesses can better protect their assets, preserve their reputation and maintain the trust of their customers and stakeholders.
Hacking, cybersecurity plan
Recently, hackers gained sensitive data from the Department of Science and Technology, compromising two terabytes worth of data, including research plans, designs and schematics.
Last year, several government offices, including that of the Senate and House of Representatives were also under cyber attack. Hackers also attacked the websites of the Philippine Health Insurance Corp. and the Philippine Statistics Authority.
President Ferdinand “Bongbong” Marcos Jr., has adopted a six-year cybersecurity plan to bolster the security and resilience of the country’s cyberspace.
Executive Order (EO) 58 directed government agencies and government-owned and controlled corporations to adopt the National Cybersecurity Plan 2023-2028 as a “whole-of-nation road map for the integrated development and strategic direction of the country’s cybersecurity.”
“The strengthening of security and resilience of the Philippine cyberspace is one of the key strategies to ensure safety and security in cyber and physical spaces,” EO 58 said.
Created by the Department of Information and Communications Technology (DICT), among the NCSP 2023-2028’s goals are to secure the government network infrastructure, reorganize the DICT’s cybersecurity bureau, develop a national cybersecurity threat database that can be accessed by the public and partner with telco firms for the early detection and mitigation of cybersecurity threats. / KOC