Escalation of Cybercrime

The Internet has undoubtedly become an integral part of the office. But the problem is that if we can access information from another computer, a different computer can also access information from ours. Of course IT companies are aware of this which is the reason why computer software and systems are continually evolving to prevent data theft; but cybercrimes are also escalating, threatening millions, or even billions of dollars in damages.

In line with this, Trend Micro recently disclosed that cybercriminals are becoming organized and have formed alliances to reach crimes of unprecedented scope when working alone. They also state that “It just shows that there is always a market for sensitive information. There’s a trend where the information-gathering efforts by criminals are targeting high-profile entities rather than going en masse.”

Philippines make for an attractive prey for cyber attacks because of the emergence of online banking, the flourishing BPO industry, the active participation in social networking sites (Facebook subscribers in the Philippines is 22 million strong), and the absence of a government branch directly addressing these type of crimes. Hopefully, the Philippine Computer Emergency Response Team (PHCERT) will get full backing from the government and become an organization not unlike CERTs in other countries.

Cybercriminals hide their hacking tools in the guise of “common and otherwise harmless internet activities.” Activities like clicking an unassuming link to a news article. Once they have access to your files, they can obtain personal information, credit card numbers, or any sensitive files which could lead to monetary gain in their part but millions worth of damages in yours.

Filipinos need to be aware of these types of attacks and should learn how to defend themselves from it. Solutions can range from limiting web browsing activities, to encryption of sensitive files. It is better to implement these solutions now and prevent potential damages, than to wait for a disaster before acting upon it.