Businesses told to ramp up cybersecurity measures

·2 min read

AS DIGITAL transactions accelerate in the market shaped by the Covid-19 pandemic, business leaders urged companies to invest in cybersecurity measures to prevent hackers from disrupting their operations.

Mandaue Chamber of Commerce and Industry president Steven Yu said as cybercrimes evolve, companies should step up their cybersecurity structure, making it difficult for cybercriminals to carry out their attacks.

“We encourage companies to invest in cybersecurity although it can be costly initially. But they can easily recover their investments if sales increase, or it is the lesser evil or less costly alternative to being victimized,” Yu told SunStar Cebu.

Yu described cybersecurity as a sunrise industry.

“With the increased migration and use of digital technology, it is expected that cybercriminals will also be on the prowl, and victimize more innocent people. Criminals will flock to cyberspace as transaction value increases and new entrants are unfamiliar and become easy prey to them,” he said.

As the country moves forward, Yu said there will be an increased sophistication and incidence of cybercrimes.

“It is best that we are always mindful and cautious in giving vital information. It will take a while before our enforcement can adjust to the technical sophistication/developments because even the US and many big global companies are constantly being attacked and victimized,” he said.

With this, Yu said there is also a need to drastically improve the math and science curriculum of the schools to catch up with this new development.

“Now more than ever, education will be critical in the future growth of our nation,” he said.

In an earlier interview, Rey Calooy, chairman of the Filipino Cebuano Business Club, said micro, small and medium enterprises are now keen on investing in online capabilities.

Calooy said it is one of the major ways to reach consumers who would rather do online shopping instead of physically going to stores. (JOB)