Global cybersecurity leader Palo Alto Networks just released its highly anticipated “2023 State of Cybersecurity ASEAN” report during a media briefing this week. The report sheds light on the cybersecurity landscape in the ASEAN region, highlighting the Philippines as one of the countries grappling with the highest number of disruptive cyberattacks alongside Malaysia.
According to the findings, 29% of local organizations in the Philippines experienced a worrisome surge of 50% or more in disruptive cyber incidents over the past year. These attacks have raised significant concerns about the security of operations technology , particularly within critical infrastructures, which witnessed a disproportionate share of these disruptions compared to other sectors.
The report underscores the continued prioritization of cybersecurity among Filipino businesses, with 56% of local organizations disclosing that cybersecurity is a recurring topic at the board level every month. In addition, some 68% of Filipino enterprises have expanded their cybersecurity budgets, a move triggered by the increasing pace of digitalization and the need to adhere to new or evolving regulations mandating stricter data privacy measures .
While confidence in cybersecurity measures appears to be a common thread across various industry sectors in the Philippines, it is particularly pronounced in the Services and Transport and Logistics sectors. However, despite this confidence, a substantial 51% of organizations based in the Philippines believe they are at high risk from cybersecurity threats. This paradox may be attributed to the fact that 90% of local organizations express confidence in their adopted security measures.
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