As online transactions become the new norm since the onset of the pandemic, cyberattacks proliferated around the globe, compromising data security, and incurring millions of losses among organizations.
One of the top cyber threats is ransomware, a type of malicious software that threatens to publish a victim’s personal data, or make use of encryption to block access, or hold hostage the victim’s files until a sum of money is paid.
According to a report from Kaspersky Security Network, cybersecurity threats in the Philippines increased by 59 percent with over 44.4 million detections for 2020 alone, and over 7,000 companies encountering ransomware attacks.
A United Kingdom-based cybersecurity firm, Sophos, also found that organizations in the country spent an average of $820,000 to recover on attacks, including the ransom and cost incurred because of the system downtime.
“There is a need for the further strengthening of cybersecurity among businesses, especially now that cybercriminals are taking advantage of our non-standard operating mode and our increased reliance on digital platforms,” said Marilene Tayag, Chief Information Security Officer of ePLDT, the ICT arm of PLDT Enterprise.
“Organizations have started investing more in cybersecurity. Enterprises have come to realize that protecting the company’s digital assets must be integral in the implementation and adoption of innovative technologies.”
Moreover, the chief information security officer said that ePLDT has been boosting its cybersecurity solutions to assist organizations in solidifying their data protection capabilities.
ePLDT Security Operations Center (SOC) has been providing cybersecurity services that protect businesses against cyberattacks. It provides services such as cybersecurity consulting for identifying possible threats, incident response, and managed security for various security solutions suited for the needs of businesses.
“ePLDT, together with our partners, continues to develop solutions that safeguard organizations against possible vulnerabilities in the digital space,” said Jovy Hernandez, ePLDT President & CEO and SVP & Head for PLDT and Smart Enterprise Business Groups.
“Cybersecurity and data protection are critical for the success of every business endeavor; thus, we commit to this duty of keeping users proactive and vigilant with the use of our flexible and reliable cybersecurity solutions,” he added.
Likewise, to better help institutions in reinventing and revolutionizing their business operations including cybersecurity, PLDT, the country’s largest integrated telecommunications company, will hold the most prestigious digital thought leadership event, the Philippine Digital Convention 2021 (PH Digicon 2021).
The three-day convention aims to guide decision-makers in rethinking the way they conduct their business with insights from industry and technology experts around the world and help them revolutionize their organization with technologies needed to stay ahead and thrive in the ever-changing business landscape.
The PH Digicon will be on October 6 to 8, 10:00 AM to 8:00 PM. To register, visit phdigicon2021.com.
For more information, visit epldt.com.