UNREGISTERED WORK DEVICES HEIGHTEN PH FIRMS’ CYBER RISKS

With the majority of Filipino employees logging in to work using unregistered devices, cybersecurity firm Cisco warned against companies’ heightened vulnerability to cyberattacks, which could cost up to around half a million dollars to resolve.

Cisco, in a statement on Tuesday, reported that 87 percent of the respondents claimed their employees access the company’s digital work platforms via unregistered devices.

Some 75 percent also said they were working from these devices for over 10 percent of the work day in the advent of hybrid setup.

“This scenario is further complicated as employees are logging into work from multiple networks across their homes, local coffee shops and even supermarkets,” Cisco stressed.

The survey noted that 91 percent of the respondents use at least two networks while 47 percent logs in via more than five networks.

Such risks led to 89 percent of the respondents admitting the increased likelihood of cybersecurity incidents, which are usually in the form of malware and phishing attacks.

Over seven out of the 10 respondents of the study said they dealt with a cybersecurity attack in the past 12 months. About the same number said such digital threats cost them at least $100,000; while 38 percent said they spent at least $500,000 to address the matter.

Some 85 percent of the security leaders surveyed said these cybersecurity incidents were likely to disrupt operations in the next 12 to 24 months.

“As hybrid work becomes the norm, companies are empowering their employees to work from anywhere. While this has brought many benefits, it is also opening new challenges, especially on the cybersecurity front, as hackers can now target employees beyond traditional corporate network perimeters,” said Juan Huat Koo, cybersecurity director for Cisco in the Association of Southeast Asian Nations.