With great power comes great responsibility

Technology is rapidly evolving nowadays: Soon enough, smart homes and Artificial Intelligence will become the norm, alongside paperless transactions and online banking. However, as technology is evolving, so are security threats: hackers come up with better and more threatening ransomware and malware that can cripple anyone–from big companies to regular smartphone users, leading to stolen private data and millions of dollars in losses.

Which is why during this year’s Security TRENDs, held at New World Hotel Makati last October 12, several keynote speakers shared their insights on the state of internet security today. To keep things simple, we’ll talk about the key points discussed during the forum:

1. The Asia Pacific region is the most affected region when it comes to ransomware
   As ransomware is rapidly evolving, there have been more reports of ransomware attacks per year. In a recent research by Trend Micro, 33% of ransomware attacks come from the Asia Pacific Region, with around 1.45% coming from the Philippines. When it comes to attacks, anything can be affected: From banks, hotels to even apps people download from Google Play and App Store.Based on Trend Micro’s research, around 6.6 million users in the Philippines fall victim to downloading malicious apps, along with 2.3 million malware detected in the country alone.
2. Fake News is a problem bigger than what you think
   With the wide reach of social media, fake news is seen as an attack–to an extent. Through completing the “fake news triangle”, which consists of social media, motivation, and dissemination services, fake news is dangerous as it spreads wrong information to anyone who has access to social media, causing disruptions in major events like national elections.
3. Even smart appliances are vulnerable to malware attacks
   As appliances are sporting internet connectivity and added smart functions nowadays, these new features make them vulnerable as well. In Trend Micro’s 2017H1 Smart Home Network report, nearly half of smart appliances (at 40.36%) fall victim to visiting malicious sites per week.
4. The Philippines has improved its security especially with banking
   Asked about the state of online security in the Philippines, Trend Micro Technology Marketing Director Myla Pilao said that the Philippines is making an effort. Such is evident with local banks requiring their customers to upgrade their cards to ones that are equipped with EMV chips, along with compliance with the country’s Data Privacy laws.However, Pilao adds that the country can improve its security by updating its data ecosystem, and by consumers changing their habits with how they handle their electronic and online accounts.
5. Machine learning and AI play a role in combatting malware
   We have talked about the prevalence of AI in future smartphones and its benefits in a few articles, and as Trend Micro pointed out, both Machine Learning and AI should help out in detecting potential threats in the future. In fact, Pilao said that Trend Micro has been using Machine Learning since 2003 to aid in detecting potential threats.

   As to whether AI will become a threat, she adds that it is too early to consider it as a concern. That being said, Pilao adds that it is more important to improve Machine learning efforts in combatting rapidly evolving ransomware and malware.