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A total of 400 million netizens, nearly 70 percent of Southeast Asia’s (SEA) population, are now fodder for cyber criminals.

The Information Security Officers Group (ISOG) was organized by a team of current and now retired Chief Information Security Officers (CISOs) from different financial institutions.  Its members initially consisted of CISOs and IT security professionals that come primarily from Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions, referred to as BSFIs. The organization’s main thrust is the formation of a new culture of Information Security that will have a far-reaching impact upon their respective institutions and the whole Philippine landscape.  In order to cover the entire archipelago, ISOG has opened its membership to other non-BSFI institutions, thus, welcoming the rest of the end-user information security practitioners of the country into its fold.

The Securities and Exchange Commission (SEC) is preparing new rules to beef up cybersecurity in publicly listed companies (PLCs), exchanges and other capital market participants amid the surge in digital transactions in the country.

On average, the total cost of a data breach to a company is some USD 3.92 million based on the most recent annual report from IBM Security. The same report states that 51 percent of data breaches are caused by malicious or criminal attacks. And these only reflect the successful attacks.

To ensure stability of the financial system, the Bangko Sentral ng Pilipinas (BSP) is adopting stronger cybersecurity and digital financial supervision to support the digital transformation of all BSP-supervised financial institutions (BSFIs).

The current global health crisis brought a drastic change not just in the daily lives of ordinary people. It also accentuated the uncertainties driven by the ever-changing business landscape, with enterprises suddenly realizing the importance of digital transformation in continued business services amid the restrictions due to COVID-19. Fortunately, such concerns can appropriately be addressed with today's available technologies, such as cloud adaptation.

Revamping its already wide array of solutions to cover the ever-changing demands of today’s digitally-driven enterprise landscape, Globe Business recently added US-based cybersecurity provider Secureworks as one of its partners in its advocacy for digital transformation.

Long before the coronavirus pandemic hit the Philippines, digital transformation has been a hot topic for enterprises looking to future-proof their operations. The importance of this is further realized during these times when companies and even the consumers are turning to the virtual space for business continuity.

While the world was preoccupied with fighting the pandemic, new tech problems have surfaced that IT departments of schools need to face. While everyone was in a hurry to implement a new work from home scheme and new school learning arrangements, hackers were also busy exploiting holes in the new systems that are being put into place. The changes brought about by the pandemic did not only bring new ways to work and learn, but also new problems on Internet security and personal privacy.