openPR Logo
Press release

Research by Ingressum Indicates Poor State of Cyber Readiness of Philippine Banking Sector

Philippine banking and finance sector is not prepared for any cyber threats as a result of digital transformations.

Manila, Philippines March 6, 2019 -- Key research undertaken by Ingressum Philippines Corp, indicates 95% of the Philippine banking and finance sector is NOT prepared for any cyber threats as a result of digital transformation most banks are undertaking now or due to undertake in the short term.

Ingressum Philippines Corp will be sharing key insights at this year’s 30th BAIPHIL convention to be held at the fabulous Baguio Convention Center between March 14/15 2019.

Digital transformations invariably lead to an increase in email communication between a bank and it’s customers. During 2018, Philippines was ranked as the 10th most attacked country worldwide in terms of online infections with more than eight million Web threats monitored during the third quarter of 2018 alone. On the flip side, enterprises are continuously being targeted with Business Email Compromise (BEC) scams often using spear phishing techniques.

Cyber criminals take advantage of the trust that consumers and enterprises alike place in email communications, resulting in many of the reported corporate data breaches and consumer fraud cases, costing the global economy billions of dollars every year.

And the solution ? According to Ingressum Philippines Corp Country Mgr, Mr Victor Mendoza, the solution to removing the fake emails that use an  organization’s brand and email domains is simple -  implement the basic email authentication controls of SPF, DKIM and DMARC. “The starting point in re-building the trust in email communications is for enterprises to fix the underlying email authentication mechanisms and hence control who can or cannot use your email domains to send email on your behalf to internal employees or externally to consumers or vendors”, Victor Mendoza said.

The core of Ingressum’s Customer Protection Suite is a DMARC Compliance service that seeks to enable effective email communication between the bank and consumers and essentially reject any fake emails from reaching consumers all together.

Equally, DMARC plays an important role in the Enterprise Protection Suite, specifically the Inbound Email Protect service that protects enterprises from cyber criminals using the corporate’s own email domains against them in BEC or spear phishing campaigns.

​About Ingressum Philippines Corp.:
Ingressum is an innovative provider of cybercrime protection and intelligence services that proactively responds against online threats and reduces the risks posed by spear phishing, email domain spoofing, malware, and other cyber-attacks.

Ingressum is an innovative provider of cybercrime protection and intelligence services that proactively responds against online threats and reduces the risks posed by spear phishing, email domain spoofing, malware, and other cyber-attacks.

Con Lokos
Ingressum Philippines Corp
Lvl 17. 31 Queen St
Melbourne, Victoria, Australia
+61388070950
info@ingressum.com
https://ingressum.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Research by Ingressum Indicates Poor State of Cyber Readiness of Philippine Banking Sector here

News-ID: 1644154 • Views: 268

More Releases for Philippine

New Era in Consumer Lending Market is growing in Huge Demand in 2020 | Philippin …
The Consumer Lending Market is expected to reach +19% CAGR during forecast period 2020-2026. Consumer lending provides financing for personal, family, or household purposes. The loans can come from a variety of places, including financial institutions or lending platforms, like the aforementioned Prosper and Lending Club. Increase in government initiative toward Consumer lending, and surge in need of reduced loan management time among borrowers and lenders have boosted the growth of
SOFITEL PHILIPPINE PLAZA MANILA WINS MULTIPLE AWARDS IN THE 2018 PHILIPPINE CULI …
Sofitel Philippine Plaza Manila won several awards spanning various categories in the recently concluded Philippine Culinary Cup 2018 (PCC). Held at the SMX Convention Center last August 1 – 4, 2018, Sofitel Philippine Plaza Manila’s master chefs secured multiple awards in the PCC’s Professional Division. Led by Executive Chef Nicholas Shadbolt and under the instruction of team leaders Chinese Chef Michale Tai and Sous Chef Regine Lee, the Sofitel culinary
Reasons for Wide Application of Crusher Hammer in Philippine
DSMAC crusher hammer have a wide application in Philippine in last year. There were several customers who consulted on DSMAC crusher hammer. What’s the reasons for the wide application of crusher hammer in Philippine? The crusher hammer needed includes many models, such as stone crusher hammer, clinker crusher hammer, and so on. In these products, the high chrome crusher hammer is proved to have stronger wear resistance than those use tradition
Agoda.com makes waves with sweet hotel deals for Philippine surfing
Agoda.com, Asia’s leading hotel booking site and part of Nasdaq-listed Priceline Group (Nasdaq: PCLN), is providing hotel deals in the Philippine province of Surigao del Norte, a popular tourist destination offering constant balmy temperatures, swaying palm trees, and the famed Siargao Island, one of the world’s best surfing locations. Recently included on list of destinations to watch in 2013 by Condé Nast Traveller magazine, Siargao Island’s reputation is well-deserved due to
CESE Forum Informs Philippine Energy Discussion
Thought Leadership Emerges from Discussion in Manila Involving Public, Private and People Sectors SINGAPORE (December 14, 2010) – Discussions at the Nuclear Power Forum Philippines 2010 have generated progress in the industry discussion on nuclear power development in the Philippines. The high-level meeting among regulators, financing professionals, technology providers, project developers and state and private generation companies is generating concrete follow-up actions and movement in the industry. The forum is organised
Philippine Airlines Touches Down In Riyadh
Inaugural flight to Riyadh welcomed by Filipino expatriates; PAL to fly Manila – Riyadh sector four times a week. Riyadh, Kingdom of Saudi Arabia, March 29, 2010: Philippines Airlines (PAL) announced that they have begun operating four nonstop flights every week from Manila to Riyadh from March 28, 2010. The Filipino expatriate community welcomed their national carrier’s inaugural flight to Riyadh on Sunday, which marked the return of the airline to