Defining the News
According to a study commissioned by leading American multi-national technology company, Microsoft, and conducted by Frost & Sullivan, the potential economic loss due to cyber-security incidents in the Philippines could reach an astounding US$3.5 billion.
Over the years, this strategy has been so effective in gaining access to an entire corporate network. In 2021, the average ransom payment made by Philippine organizations hit by ransomware was a whopping $1.6 million.What’s more, this figure is also double the global average of about $812,000 in 2021. It really underscores the significant financial impact of these cyber threats.
These figures highlight the significant financial and security impact of cyber threats on government and private organizations in the Philippines that must be immediately addressed.DICT USec Dy admitted his concerns on the cybersecurity posture of the country and has appealed for more resources. They also emphasize the importance of increasing cybersecurity in critical sectors, which is vital to the future of national economies.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Death toll from Afghan quakes now more than 2,000: governmentDefining the News
Read more »
Japan looks to youth at Paris Olympics after mixed Asian GamesDefining the News
Read more »
Toxic storms blamed on climate change cloud TajikistanDefining the News
Read more »
Philippines basketball glory to Chopra: five Asian Games performancesDefining the News
Read more »
Two Thais killed in Israel-Gaza violence: Thailand PMDefining the News
Read more »
North Korea to let doping officials back in for testingDefining the News
Read more »