PLDT warns firms vs cyber threats

MANILA, Philippines - A unit of PLDT Inc. is urging local companies to go beyond the use of security software and hardware in addressing cyber threats. 

With the rise of the Internet of Things or use of internet-connected devices that have the capacity to collect and exchange data, Angel Redoble, ePLDT Inc. chief information security officer, said data security software and hardware are not enough to combat cyber threats. 

“Companies that focus on data security technology alone unfortunately do not understand cybersecurity,” he said. 

“Because a single attack can affect every department of a company, cybersecurity therefore should be approached holistically by integrating it in every aspect, not just in technology. To do this, a company must first focus on having a strict protocol or process and must have the right people who are skilled to combat different kinds of threats. Once these are integrated with the appropriate technology, a company can achieve business resiliency,” he added.

According to Ernst & Young’s Global Information Security Survey of 2016 and 2017,  64 percent of 1,735 firms surveyed which included Philippine companies said they have zero or mere informal threat intelligence programs. 

The survey also showed 42 percent do not have an agreed communications strategy or plan in place in the event of a significant attack.

By having a security process or program, companies have a framework for a desired security level that will allow them to assess the risks, decide how to mitigate such, and plan on how to keep programs and practices up to date. 

 “The hundreds of thousands of vulnerabilities that are recorded every day plus the evolving hacking methods just goes to show that like a process, cybersecurity is a never-ending journey and should be evolved to mitigate and manage new threats,” Redoble said.

While institutions do not employ cybersecurity due to financial constraints, he said such should not stop them because the benefits outweigh the costs for a company’s performance and existence.