Business companies urged to invest on cyber security

Published February 17, 2018, 10:00 PM

by Mario Casayuran and Vanne Elaine Terrazola

By Minerva BC Newman

Cebu City – The Mandaue Chamber of Commerce and Industry (MCCI) urged its member companies to invest on cyber security and conduct a cyber security audit to strengthen and secure the company’s vulnerability to sensitive data theft and security breach.

MCCI president Stanley Go encouraged the Chamber to work closely with PLDT in conducting the “cyber security audit” realizing the weak development of cyber security among the firms here.

Go said business must build its ability to protect its cyberspace. With a weak cyber security, companies are vulnerable to data theft, high risk of losing revenue, reputation and costly lawsuits, he added.

Angel Redoble, ePLDT chief information security officer, in a forum with businessmen last week said traditional security measures are no longer enough for today’s technology.  Cyberattacks are becoming more intelligent and sophisticated.

According to Redoble every year many firms still do not have a strong understanding of their cyber posture and it takes a long time for many organizations to discover they had been hacked and their security had been breached.

He explained cyberattacks are driven by greed and various motivations like for personal or corporate gains, organization funding, and economic superiority.

He added attackers also have access to most or all the defensive tools and tactics of enterprise defenders and that defenders lack platform, authority and resources to fully control and protect the systems and data they are responsible for.

He also questioned the capability of security teams to monitor round-the-clock traffic and attacks. It is for these reasons business must protect their cyberspace or outsource a reliable company with cyber security approaches that are predictive, responsive, preventive and detective.

Redoble said the longer you detect and resolve a cyberattack, the bigger the damage. The challenge is to respond quickly and efficiently. “How fast can you respond and recover?” he asked.

According to Redoble, cyber security is not just about technology and computers. It involves people, information systems, culture and physical surroundings, and technology. It is an environment where business can remain resilient in the event of a cyberattack.

Cyber security needs the right people with the right expertise and attitude. Redoble said companies are having difficulties recruiting the required talent/skills.  “We lack solid educational programs on cyber security, among others,” he added.

He said there are hosts of issues to contend with when companies implement cyber security.  They are faced with complexities it brings, including people, process and technology, larger network, BYOD (bring your own device), and siloed IT.

Deployment is also a huge concern that can make it difficult to implement cyber security across organizations, he said.