Cyber-attack incidence in the Philippines has alarmingly increased by 48% compared to the previous quarter, according to global software security company Trend Micro. Trend Micro added that the country’s banking and financial institutions are at the highest risk of being targeted by cyber threats, with the manufacturing, transportation, and technology sectors also being affected.
Malware was cited to be the most prevalent cyber threat affecting the country last quarter. “Malware infections affect all types of industry regardless of size, and are capable of gathering usernames and passwords, such as online banking and File Transfer Protocol credentials,” said Myla Pilao, Marketing Director at Trend Micro Philippines.
Pilao also noted, “Local businesses are also still susceptible to old-school threats like file-infecting viruses and worms that spread through removable drives.” An earlier report by Trend Micro revealed that the global incidence of business email compromise (BEC) scams was on the rise as well.
The increasing cybersecurity threats in the country have prompted Trend Micro to host CLOUDSEC, the world’s leading Internet security conference, for the first time in the Philippines. The conference gathers together industry leaders, government, NGOs, professional associations, technology vendors, and Internet security professionals to discuss emerging cyber threats and the latest cybersecurity measures.
Among the keynote speakers at the CLOUDSEC are Trend Micro CTO Raimund Genes, who will examine organizational challenges of information security and risk management. Cognitio Corporation founding partner and former Central Intelligence Agency CTO Bob Flores will discuss how top management can prepare against cybersecurity risks. Manuel Joey Regala, President of the Information Security Officers Group (ISOG), an organization comprised of security leaders of the different financial institutions in the Philippines, will share insights on the state of cybersecurity in the banking industry.
The conference will also feature presentations on critical topics such as virtualization of security innovations, forensics readiness, the enterprise cloud and its security implications, and data center management.
CLOUDSEC Philippines will be held at the Shangri-La at the Fort, Bonifacio Global City, Taguig, Metro Manila, on August 16. Attendees are encouraged to register early as seating is limited. For registration information and more details, please visit CLOUDSEC Philippines’ event page.