The Philippines is ranked among the top 10 countries in terms of users attacked by malware, phishing attempts, and ransomware. Major Philippine institutions — from government agencies to hospitals and universities — have experienced cyberattacks that resulted in data leaks, service disruptions, and massive reputational damage.
According to a report by Cybersecurity Ventures, global cybercrime costs are expected to reach $10.5 trillion annually in 2025. In the Philippines, cybercrime has already inflicted losses amounting to tens of billions of pesos per year.
Small businesses, which make up 99 percent of the economy in the Philippines, are particularly vulnerable. Most do not have in-house cybersecurity teams or even basic protocols to defend themselves from increasingly sophisticated threats. A single ransomware attack or data breach can cripple an SME, erode consumer trust, and lead to regulatory penalties.
This is why the creation of the Cybersecurity Council of the Philippines (CSCP), formed this year and formalized and inducted by Department of Information and Communications Technology (DICT) Secretary Henry Aguda last week, is so timely and urgent, according to an article in BusinessWorld by Dr. Donald Patrick Lim, Chairman and President of the CSCP.