‘Investments a must for PH cybersecurity’

International think tank Stratbase Institute is urging the government to fortify the country’s cybersecurity posture by increasing investments in this tech sector.

“Bad actors are cunning and sophisticated, and when they see easy targets, they will attack,” said Stratbase Group CEO and Founder, Prof. Victor Andres “Dindo” Manhit.

“It’s clear that fortifying our cyber defenses should be a priority, particularly for critical infrastructure across both public and private sectors. This proactive approach to cybersecurity is a necessary step in safeguarding against the ever-evolving threat of cybercrime,” Manhit said.

Manhit explained that “Cybersecurity is a vital investment at all levels, as data breaches are increasingly common. Businesses must ensure uninterrupted operations and secure data, provide peace of mind and building trust with customers and stakeholders.”

He suggested that the government should engage with the private sector telcos and cybersecurity providers in developing a comprehensive and strategic approach to cybersecurity investments.

The International Trade Administration reported a 2020 survey that showed 43% of private companies in the Philippines had increased their allocation for cybersecurity solutions. Despite this, according to Manhit, more has to be done.

Moreover, just 27% of organizations in the Philippines have a “mature” level of readiness to confront modern cybersecurity risks, according to the Cybersecurity Readiness Index released in March 2023 by information technology firm Cisco.

Manhit said it is also important to highlight the role of Chief Information Security Officers (CISO), for each agency or organization, mandated to maintain the most robust and appropriate protection from hackers and instilling a cyber hygienic culture to all its network users.

However, there is a dearth of cybersecurity professionals with more than 2 million unfilled cybersecurity posts in Asia alone.

“It’s essential to enhance our existing talent pool and elevate the expertise of our IT professionals. We should also consider engaging the services of ethical hackers to bolster our cybersecurity frameworks,” Manhit said.

Spate of government attacks