Office spaces in Metro Manila is a lucrative business. All thanks to the continuous interest from BPO and gaming firms, the increase in demand continues. However, that’s not all as their interest in the country is also important in cybersecurity, according to an executive from IBM, a multinational information technology company.
According to a report by Manila Times, the two industries are “big investors” to the country when it comes to cybersecurity, investments, services, and activities, according to Malcolm Rowe, IBM business unit executive for Southeast Asia.
“The BPO industry is a global business and it’s a significant contributor to [Philippine] big business,” Rowe said as quoted on The Manila Times. “It’s a critical global industry and it is highly vulnerable to a bit down because it is 24/7, depends on the internet and huge amounts of ports of entry. That’s an area which has invested significantly in cybersecurity services and cybersecurity software and continues to do so for the obvious reasons.”
On the other hand, the IBM executive said that software attacks could target the gaming industry as “it’s an object of attack for ransomware, exploitation or just pure theft.”
Ransomware, also known as ransom malware, is a type of malware that blocks the access of users to their files or computer as a whole by locking it. For users to regain access, they’re asked to pay a ransom.
Despite cybersecurity attacks, Mr. Rowe said there are investors in cybersecurity, response, detection, protection, and recovery as well as financial services, infrastructure, and government.
The Philippines, according to the United Nations Global Cybersecurity Index in 2017, ranked 37th out of 165 countries. The country also ranked 58th out of 175 countries on the International Telecommunication Union’s 2018 index.
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