The resurgence of ransomware attacks, according to Fitch, demonstrates how cyber risk affects all industries. For S&P, no financial institution is immune to adverse cyber incidents, and organizations that do not invest sufficiently in cyber security risk are being targeted repeatedly and successfully. In terms of ransomware, Yeo said from May 2019 to April 2021, attacks on 7,055 Filipino firms with Kaspersky-protected devices were detected and blocked. What this tells us is that given our cybersecurity efforts, we cannot be complacent when it comes to cybersecurity," Yeo said. "The problem for cyber security is poor detection.

Source: Manila Times June 03, 2021 16:30 UTC