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Eastern Communications Partners with Industry Experts to Share Cybersecurity Insights for Business Protection
Friday, November 22, 2024
In observance of Cybersecurity Awareness Month, Eastern Communications spoke with industry leaders for insights to help businesses safeguard themselves from the growing threat of cyberattacks.
Between January and August 2024, the Philippine National Computer Emergency Response Team (CERT-PH) reported over 2,000 cyber incidents affecting various organizations. This is part of a broader rise in cybercrimes in the country, with the Philippine National Police (PNP) Anti-Cybercrime Group (ACG) documenting a 21.8% increase in cybercrime cases during the first quarter of 2024 compared to the same period in 2023.
From January to March 2024, ACG recorded 4,469 cybercrimes — an average of 49 cases per day compared to 40 in 2023. Online selling scams topped the list, followed by investment scams and credit/debit card fraud. This surge signals a sharp rise in cyberattacks across the Philippines, highlighting the urgent need for robust cybersecurity measures.
Meanwhile, anti-scam app Whoscall reported a 200% surge in the number of scam calls and messages between January and August 2024, with over 3 million reported text scams and more than 320,000 scam calls.
Forms of cyber attacks have also changed, and cybercriminals are becoming more ICT-enabled as they resort to technologies like Fake Base Transceiver Stations (BTS) to directly attack users by sending spam and fraudulent SMS messages.
To address these escalating challenges, Eastern Communications’ Thoughts on Tech podcast series featured in-depth discussions with tech experts, exploring critical cybersecurity topics. These include the government’s role in mitigating cyber threats, safeguarding customer data, managing information technology (IT) risks for enterprises, and the opportunities and risks of artificial intelligence (AI).
Cybersecurity Solutions for Every Business
Cybersecurity was once seen as an optional and additional cost for many businesses. Today, it is an essential investment for both small enterprises and large corporations. Rex Evangelista, Head of IT at Eastern Communications, noted this change of perspective for cybersecurity.
“I would say that in terms of the importance of the organizations and the shift of organizations in the companies, they are now able to understand the importance of security in their organization,” he said, adding that mitigating cyber risks also protects a company’s reputation.
Evangelista also noted the importance of proactive cybersecurity strategies to mitigate the risks and maintain business continuity.
“They have to liken to insurance, that if [attacks] happen, somehow they are covered. The cybersecurity solutions are actually there to make sure that operations will continue, it will not be disrupted,” he explained.
Educating employees and spreading cybersecurity awareness is another need for a company to ensure employees are also protected against cyber threats, according to Evangelista.
Securing Customer Trust and Data
For businesses, especially in the finance industry, securing customer data is paramount. Pancho Reyna, Managing Director of AI, Data, and Engineering of UBX (UnionBank’s digital arm), emphasized the evolving nature of cyberattacks and the necessity of robust security measures.
“From a cybersecurity perspective, the technology is also rapidly evolving and can be used for any malicious or any form of attacks,” he said.
Reyna shared that cybersecurity in the finance industry is not just about prevention, but also deterrence. “It’s making sure that your systems are difficult, if not impossible, to penetrate,” he explained.
Businesses should anticipate attacks and implement security layers that make them harder targets. Reyna also noted that business owners should be aware of their cybersecurity needs and adopt these necessities accordingly to protect themselves against cyber risks.
The Government's Role Against Cyberthreats
Cybersecurity is not only the sole responsibility of the private sector. Jeffrey Ian Dy, Undersecretary - Infostructure Management, Cybersecurity and Upskilling of the Department of Information and Communications Technology (DICT) highlights the government’s efforts to protect the country against cyberattacks and offers key lessons for businesses.
Dy pointed out that while the finance industry is more susceptible to cyber threats, no industry is actually safe from these attacks. The government, telecommunications companies, and the academe are also the most targeted institutions, especially for advanced persistent threats (APTs) like state-sponsored attacks, and cyber terrorism.
The undersecretary emphasized that understanding both the offensive and defensive sides of cybersecurity is crucial.
“Hacking is a lot easier now, and that's the problem. The cost of offensive cyber security capabilities is less than the cost of defending,” Dy said. This means businesses must proactively strengthen their defenses.
He added that small and large businesses alike must prioritize cybersecurity investments in critical areas, such as securing Wi-Fi access points and implementing strong password protocols.
The government’s National Cybersecurity Plan 2028 brings together multiple agencies to address cybercrime. However, Dy stressed that this fight requires cooperation from all sectors, including private businesses.
“Security is not about securing everything. It's focusing your money on where it matters the most. In that way, you can significantly lessen your security cost,” the undersecretary advised.
Understanding AI: Opportunities, Threats, and Training Your People
AI is a double-edged sword that offers both opportunities and risks. Catz Jalandoni, Country Head of the Global AI Council Philippines, emphasized that businesses must understand AI's potential, while also preparing for its associated threats.
AI can streamline business operations, drive innovation, and even help businesses stay competitive — 89% of Filipino leaders agree that AI adoption is key to remaining competitive. Jalandoni noted that AI is one of the tools that is easy to learn and is easy to access, with numerous free online courses available for users.
“Technology is a tool, use it, so that it will benefit you, and embrace it so that you are able to do more things that you thought are impossible or you are incapable of,” she said.
However, like any new technology, Jalandoni warned that AI can still be used. To prevent this, she introduced the concept of “mothering” AI, which involves teaching AI to behave ethically.
“When you mother, you say not only how it's supposed to be done, but also whether it's right or wrong. And that's something that I'm championing, for people to actually ‘mother’ your AI,” Jalandoni explained. “You can teach it not only how to find information that is relevant to you, but how to access information that can actually be functional for you and what type of information it should be accessing.”
Strengthening Your Cyber Defenses
As cyber threats continue to evolve, businesses must stay ahead of potential risks by investing in the right technology, training their people, and adopting proactive security measures. Eastern Communications offers a suite of ICT solutions designed to help businesses protect their data and operations, from secure network solutions to robust cybersecurity tools.
Eastern has also partnered with the American Chamber of Commerce of the Philippines (AmCham) in mounting a special session entitled "Strengthening Cybersecurity in the Philippines: Best Practices, Emerging Threats, and Future-Proofing Strategies," on October 30, 2024, at Robert Sears Hall, AmCham Philippines, Makati City. The event will help businesses learn how to stay ahead of the curve and ensure their company's resilience in the face of evolving cyber challenges.
For more information on how Eastern Communications can help your business defend against cyber threats, contact 5300-7000 or visit www.eastern.com.ph.
