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Philippine enterprises should step up measures for cyber security - Fujitsu PH

News facts:
  • Cybersecurity threat list for 2017 from Fujitsu highlights critical enterprise vulnerabilities
  • Unprotected channels into critical systems, banking and smart cities among the most likely targets for cybercriminals this year
  • Artificial Intelligence likely to be game changing for cybersecurity and cybercriminals alike
  • Greatest risk remains poor IT processes, which will continue to cause avoidable breaches
Makati City, Philippines, March 08, 2017 —Fujitsu Philippines, a global leader in providing information and communications technology solutions, urges enterprises in the country to step up their cyber security measures against cybercrime as it recently releases its latest Threat Predictions report for 2017, identifying 10 of the greatest security risks to enterprises.
Based on the real-world intelligence in monitoring ongoing threats, Fujitsu noted that the most significant of these cybercrime threats is the failure to keep up with the basic IT security processes.
“While this [problem] is the easiest to remedy, lax security will continue leading to breaches that can be easily avoided. However, a number of enterprises in the Philippines don't carry out simple, yet vital housekeeping tasks that cut down on risks," said Cricket Santiago, Fujitsu Philippines Chief Executive Officer. 
The country also has a high number of cybercrime cases as of last year. The latest report of the Philippine National Police-Anti Cybercrime Group (PNP-ACG) noted that 1,865 cases were filed with them in 2016. Thirty-six percent of them are internet threats and scams that may lead to data loss, data theft or external disruption of their systems. 
Fujitsu urges businesses to take immediate measures to better protect themselves through more effective vulnerability patching and ensuring that only current users have access to critical systems. It is due to Fujitsu’s findings that show many organizations are too generous when it comes to system access privileges for regular users. 
Another particular weakness identified by the Fujitsu security experts relates to encrypted channels that provide external access to the heart of critical computing systems. These are designed to give remote workers easier access to networks, but when taken over by a cybercriminal, can mean suspicious activities are largely undetectable. This is described as a blind spot, with attacks over encrypted channels being missed due to the lack of SSL inspection capabilities. 
Meanwhile, companies should also be more vigilant in managing banking applications, another favorite for cybercriminals. PNP-ACG also reports that it comprises 12 percent or 215 cases of cybercrime last year. Fujitsu predicts that 2017 will see more attacks in banking payment systems and expects further growth in banking Trojans targeting older, more vulnerable back office applications. Although international banking networks are moving to establish mandatory controls, Fujitsu states that it still presents a window of opportunity for cybercriminals. 
Smart cities will also find themselves targeted. Many of the protocols designed for smart connected devices have their own potential flaws and vulnerabilities. Fujitsu warns that implications could include allowing hackers to disable smart lighting grids in entire cities. 
The state-of-the-art Fujitsu Security Operations Center (SOC), which protects customers by detecting, analyzing and neutralizing threats, also foresees that the increased use of Artificial Intelligence (AI) and machine learning capabilities will become game changers in enterprise security since it can immediately identify anomalies like web traffic patterns. Such early warning systems allow security professionals to take a proactive approach to risk mitigation, aiming to eliminate threats before they become problems. However, Fujitsu also warns that cybercriminals will also be turning to these technologies to launch previously unseen types of attack. 
Santiago further noted, “Stepping up cyber security is a matter of reducing your business’ vulnerability to cyberattacks. The latest report from the Fujitsu SOC ensures that your company has the essential steps to take so that you will not be needlessly exposed to potential risks of data loss, data theft or external disruption of its systems.”
Notes to editors
¹The full 2017 Threat Predictions Report is available here: http://www.fujitsu.com/uk/Images/FUJ_SOC_Predictions_Report.pdf
Online resources
Fujitsu Contact
Marjerie Balbuena
Marketing Director
8418412

About Fujitsu Philippines, Inc.

Fujitsu Philippines, Inc. is a leading information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. As a multinational company from Japan, it has an approximately 156,000 Fujitsu people who support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.7 trillion yen (US$41 billion) for the fiscal year ended March 31, 2016. For more information, please see http://www.fujitsu.com/ph

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 156,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.7 trillion yen (US$41 billion) for the fiscal year ended March 31, 2016. For more information, please see http://www.fujitsu.com

Date: 08 March, 2017
City: Makati City, Philippines
Company: Fujitsu Philippines