Home Economy Now Corp. warns of more  cyberattacks next year

Now Corp. warns of more  cyberattacks next year

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THE PHILIPPINES may face more cybersecurity attacks in 2024 and the coming years, an official of Now Corp. said, as he outlined the company’s plan to strengthen infrastructure enterprises through cybersecurity solutions.

“Expect more hacking, expect more breaches because we are at the center of a geopolitical crisis. It is not surprising and not possible to deny that we have problems,” Mel V. Velarde, chairman of Now Corp., told reporters at a press briefing last week.

Geopolitical tension may fuel more cyberattacks, he said, citing that the ongoing conflict in the West Philippine Sea may escalate cyber risks.

He added that the majority of the country’s networks remain untrusted making them prone to attacks as cyberattackers are becoming more sophisticated.

The Philippines has been hit the most by cyberattacks among its Southeast Asian peers this year, according to a recent report released by Palo Alto Networks.

Twenty-nine percent of Filipino organizations have reported an increase in cybersecurity-related incidents of 50% or more, with 51% saying that they are at high risk from threats, according to the report.

This year alone, several government agencies have experienced cyberattacks. For instance, the Philippine Health Insurance Corp. was hit by a Medusa ransomware where more than 600 gigabytes worth of its members’ data were obtained.

The listed telecommunications company said together with affiliate Now Telecom Co., Inc., it launched end-to-end solutions to combat threats to physical and digital infrastructures.

“Deploying untrusted hardware and software including sensors and devices without rigorous vetting can open the door for unauthorized surveillance on both sensitive enterprise data and individuals, effectively turning what should be a protective measure into an unintended self-inflicted breach,” said Rene L. Rosales, president of Now Telecom.

Now Telecom has business operations in telecommunications, media and technology.

The companies’ “Technologies on Demand Assist You” or TODAY is a cyber threat assessment program designed to identify and address vulnerabilities in private and public sectors.

The company described the program as an “ecosystem of trusted global technology,” which may include cloud-based enterprise endpoint devices, sensors, handheld devices, and video security systems.

“We understand the critical nature of highly sensitive personal information, and this program protects the data integral to the functioning and trust of key industries like finance, healthcare, government services, and utility providers,” said Henry Andrews B. Abes, president and chief executive officer of Now Corp. — Ashley Erika O. Jose

Neil Banzuelo




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