Photo by Florante Valdez / Pixabay

Philippine banks need to take cybersecurity seriously

Photo by Florante Valdez / Pixabay

Bangko Sentral ng Pilipinas warns financial institutions of cyberattack threats that can not only compromise user data but may also cripple operations. Reports of data breaches in Philippine banks raised concerns about the country’s readiness to tackle cybercrimes.

Organizations are advised to take a more proactive approach and be more cautious to prevent attacks from happening. Cybercriminals have become more and more sophisticated for each attack and this worries users.

“Threats of cyber attacks have been evolving and becoming more advanced at an alarmingly rapid rate,” said Nerisse Ramos, chief operating officer of ePLDT, a subsidiary of PLDT. “It is critical for us to get our clients ready and accept that no company or individual is 100-percent safe from any breach. This means that as business leaders, preparedness means being ready before, during, and after an attack.”

ePLDT has come up with a lineup of cybersecurity solutions designed for every organizations’ needs and would allow customers “to predict, prevent, detect and respond to attacks before, during and after they (attacks) happen.”

“ePLDT’s business framework is built from a truly holistic and secure ecosystem,” said Ramos. “Our business framework addresses the most fundamental and critical need of ensuring protection from attacks online—education and empowerment of a technologically competent workforce.”

The cybersecurity portfolio includes Cyber Security Consulting, Incident Response, and Managed Security Platforms. These services are supported and monitored by the ePLDT Security Operations Center (SOC) with a 24-hour outsourced monitoring.

Banks cannot afford a prolonged downtime especially these days when clients are encouraged to use online and mobile banking. Banks, among other industries, have the most sensitive information, which makes these institutions attractive to cybercriminals.

“To be able to establish and grow a truly sustainable and resilient business, entrepreneurs must be empowered with the most advanced digital solutions and secured by global-class expertise for security, privacy and efficiency specific to their scale, needs and objectives,” said Jovy Hernandez, SVP and head of PLDT & Smart Enterprise Business Groups,.