Breach incidents point to the increasing reality that any organization, anywhere in the world, may be hacked one day -- if it has not been hacked already. One must be ready for this eventuality. Thus, a robust incident response program is essential for any organization. Without it, the organization runs the risk of significant financial loss either due to fraud, regulatory sanction, or prolonged operational downtime, not mentioning the severe reputational damage to the company’s brand.
2016 will probably go down in history as the year when most Filipinos truly understood the real threats of cyber attacks on their day-to-day lives. While technology and cybersecurity professionals have been advocating cybersecurity for many years, the events of last year, particularly the Comeleak and the Bangladesh Bank hacking, brought to the fore the issue of cyber risk.