Filipino regulator encourages companies to strengthen their cybersecurity defences

From: RegTech Analyst

The Securities and Exchange Commission (SEC) in the Philippines is urging the nation’s businesses to beef up their cybersecurity efforts on the back of Covid-19.

The SEC stated that because more people are going online to do their shopping because of the coronavirus, cyber criminals have more opportunities to cause some serious damage.

“Digital transformation benefits businesses, allowing them to improve their productivity and realise greater efficiencies, but not without risks,” said Emilio B. Aquino, chairperson at the SEC, in the statement.

“The boards of directors of companies must ensure that a robust cybersecurity strategy is in place and that existing cybersecurity measures, including regular penetration testing and risk assessments, remain effective amid the evolving security landscape.”


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