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Philippines: Firms should invest more in data protection
PHILIPPINE enterprises should invest more in data protection next year, with a global security solutions firm warning that the continuing problem of business email compromise may lead to over $9 billion in losses.
Trend Micro, Inc. said in a report dubbed “Paradigm Shifts: Trend Micro Security Predictions for 2018,” that digital extortion, business email compromise, and fake news, among others, are forecast to prevail despite cybersecurity efforts.
“In today’s increasingly interconnected environments, users and enterprises in the Philippines stand as vulnerable as the rest of the world to different forms of cybercrime,” Trend Micro director for technology marketing Myla Pilao said.
Fake news will add to risks faced by enterprises as it can be used to damage the reputation of companies for competitive purposes.
Trend Micro said firms should invest in machine-learning and block chain technologies. Machine-learning in particular, can enhance security solutions but comes with blind spots that cybercriminals will exploit at an increased rate.
“The threat landscape is constantly evolving and shifting with the emergence of new technologies. The expected prevalence and rise in cybercrime in 2018 only illustrates the importance of investing in security,” Pilao said.
Enterprises and users alike will have to take a multilayered approach to minimize the risk of compromise, given the widening range of threats.
“Enterprises and users must have a connected threat defense – from the email and web gateway to the endpoint – to ensure maximum protection against the constantly evolving threats,” Pilao said.
Source: http://www.manilatimes.net/firms-invest-data-protection/370527/