To sustain growth, PH urged to improve cybersecurity

MANILA - To sustain economic growth and development, the Philippines must give emphasis to improving data security as cyber criminals pose a serious threat to growth, according to computer maker Lenovo.

Citing “high-profile” cyber attacks in the Philippines last year – the $ 80- million Bangladesh bank heist and the hacking of the Commission on Elections database – Lenovo noted those events emphasized the weakness of network security infrastructure.

“The issue also comes in to a pivotal moment where the country is experiencing tremendous economic growth, being hailed as Asia’s fastest-growing economy in the second quarter of 2016. Undoubtedly, to sustain this growth and develop further, the country must improve its data security,” the company said in a statement.

With t he Department of Information and Communications Technology ( DICT) giving the green light to create a national broadband infrastructure program, Lenovo said the government must i nvest in improving data security t o protect confidential i nformation f rom cyber criminals.

“Hackers tend to target government agencies because of the preconception that government agencies do not yet have a proper set of security protocols in place,” said Lenovo Enterprise sales specialist Bryan Beronilla.

Government agencies must treat cybersecurity seriously, he said.

“Also, the confidential data collected by the government, automatically makes them a gold mine for hackers,” he added.

During the A SEAN Finance Ministers’ and Central Bank Governors’ Joint Meeting in Cebu, Bangko Sentral ng Pilipinas governor Amando Tetangco Jr. said the 10-member trade bloc is expected to boost cybersecurity within the region to ensure financial integration.

The Association of Southeast Asian Nations groups Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam into a single market and production base with a population of more than 600 billion.

Te tang co said cybersecurity may be one of the challenges related to the planned regional financial integration.

AEMs, ABE AGREE ON LIBERALIZING REGIONAL TRADE. The ASEAN Economic Ministers (AEM) led by Chairman and Department of Trade and Industry (DTI) secretary Ramon Lopez (left) meet with Prime Minister Shinzo Abe (right) and METI Minister Hiroshige Seko...