Businesses warned vs cyber attackers

Cyber security experts warned on the possible surge of computer-enabled crimes amid radical lifestyle changes ushered-in by the so-called new normal.

The warning was issued following the United Coconut Planters Bank (UCPB) heist that was referred to as a “foreshadowing of things to come” as business enterprises and the general public became increasingly dependent on the Internet.

Palo Alto Networks country manager Oscar Visaya said the shift to work-from-home arrangements, coupled with the increasing number of online businesses since the pandemic restricted travel, was exploited by cyber criminals.

He said many firms jumped into the new normal bandwagon apparently unprepared to fend off sophisticated cyber criminals mainly due to their ignorance regarding basic “cyber hygiene.”

Criminals need not be in cohort with company insiders to pull off a successful cyber bank heist because “unwitting moles” are aplenty, he said.

Negligent employees using a company issued laptop for personal surfing or those who remotely log into the company system using a virus-laden device can provide hackers with a way in, he added.

Visaya also revealed that a survey conducted by the company last July indicated that majority of corporate executives are confident they are adequately protected against cyber-attacks, indicating a disconcerting level of complacency despite the rising threat.