The impact is evident in the losses reported in the Philippines in 2024, totaling $8.1B due to online scams. With online activity set to surge during the upcoming shopping season, this underscores the critical need for heightened cybersecurity awareness.
“As the Philippines' retail and e-commerce sectors continue to expand, the need for strengthened cybersecurity becomes even more critical,” said Oscar Visaya, Country Manager for Palo Alto Networks in the Philippines. “The first line of protection is always proactive defense. Businesses must proactively secure their platforms and consumers should remain vigilant to ensure safety and security this holiday season.”
The rise of online shopping, digital payments and holiday planning has transformed consumer behavior in the Philippines but has also introduced new risks. High online transaction volumes during key events like 11.11, Black Friday, and holiday travel planning create opportunities for cybercriminals, especially as consumers increasingly leverage digital payment methods for their transactions. Locally, 53% of consumers use QR codes while 68% rely on mobile wallets, increasing exposure to cyber threats.
As online transactions surge, consumers face growing risks from threats like APK attacks — malicious software targeting mobile apps—and deepfake scams. To stay safe, consumers need to be on guard about their online security, especially during peak holiday seasons.
Palo Alto Networks offers the following best practices to ensure a safe experience:
Verify Authenticity: Double-check emails and offers before clicking on any links. Look out for misspellings, unusual domains, and suspicious attachments.
Use Two-Factor Authentication (2FA): Enable 2FA for all accounts, especially when shopping online, to provide an extra layer of security.
Shop Through Official Channels: Avoid unofficial or unknown websites. Stick to trusted and secure online shopping platforms.
Beware of Phishing Scams: Be cautious of deals that seem too good to be true and fake order confirmation emails.
Strengthen Passwords: Use strong, unique passwords for all online accounts and consider using a password manager for added security.
Avoid Sharing Personal Information: Never provide sensitive personal details like social security numbers or banking information in response to unsolicited requests.
At the same time, businesses must strengthen their defenses against cyber threats. Common threats during peak periods include social engineering tactics like phishing scams, which trick employees into sharing sensitive information, and ransomware attacks, which can lock down critical systems until a ransom is paid. Additionally, Distributed Denial of Service (DDoS) attacks can overwhelm retail websites with traffic, causing potential downtime and disrupting the customer experience.
To effectively mitigate these risks, businesses should adopt a Zero Trust approach that emphasizes strict verification for every user and device accessing their networks, ensuring that no implicit trust is given. By integrating comprehensive threat detection, response, and data protection into a Zero Trust framework, businesses can enhance visibility, streamline security operations, and enable real-time threat responses. This approach not only safeguards sensitive data but also maintains a seamless user experience, ensuring both protection and convenience for consumers.
“Whether you're a business owner, employee, or consumer, cybersecurity is a shared responsibility. With the holiday season and Christmas shopping in full swing, Filipinos may feel more inclined to act on attractive offers without verifying the source. Always verify and adopt a Zero Trust thinking. If the offer is too good to be true, it probably is. By fostering a culture of vigilance, we can protect ourselves and others in a landscape where threats are constant” added Visaya.
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