TECHNOLOGY
Every 2 in 3 Southeast Asia businesses are ransomware victims, Kaspersky study finds
August 16, 2022 5:39 p.m.
Ever since the infamous Wannacry attack, ransomware has become something of a buzzword within the corporate world, with large attacks on enterprises appearing in headlines month after month.
Businesses in Southeast Asia (SEA) are well within the radar of these cybercriminals with three in five (67%) confirming that they have been victims, according to the latest research by Kaspersky.
Global cybersecurity company, Kaspersky, surveyed 900 respondents across North America, South America, Africa, Russia, Europe, and Asia-Pacific, 100 of which were from SEA. Conducted in April 2022, the research titled “How business executives perceive ransomware threat” gathered the answers from those in senior non-IT management (such as CEOs, VP, and Director level) and business owners or partners at companies with 50-1000 employees.
Half of those (34%) who have admitted having their data maliciously encrypted by cybercriminals experienced ransomware attacks not once but several times. The remaining respondents (33%) said they have experienced such incidents one-time only.
The most common denominator among ransomware victims in the region is that almost all paid the ransom (82.1%). In fact, 47.8% of the surveyed executives confessed that they paid the ransom as soon as possible for immediate access to their business data, two digits higher than the global average of 38.1%.
Almost a quarter (23.9%) did try to get their data back through back-ups or decryption but failed and paid ransom within two days while 10.4% took a week of effort before paying up.
When the ransomware victims were asked of the steps they will conduct should they face the same incident, majority (77%) of the business leaders in SEA confirmed that they will still pay the ransom showing a worrying tendency for companies that have already been a victim of ransomware to pay up, encouraging cybercriminals to continue their attacks.
“It is concerning to see that only 17.9% of businesses here in SEA victimized by ransomware did not budge on the cybercriminals’ demands. We stand firm that paying the ransom should not be a knee jerk reaction for enterprises. But, with more than half (67%) of those we surveyed admitting that their organizations would not survive without business data if attacked, we understand the urgency and the desperation to get their data back as soon as possible, by all means,” comments Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky.
Kaspersky’s study also revealed a key puzzle piece – that the majority (94%) of enterprises in SEA will seek external help if attacked by ransomware. This is a tad higher than the global rate at 89.9%.
Almost a quarter (20%) of which will contact the law enforcement, while 29% will reach out to a third party cybersecurity incident investigation and response service provider like Kaspersky. The remaining percent will contact both of these external organizations to know how to respond to a ransomware attack.
“With only 5% of enterprise leaders confirming that they have internal incident response capabilities or they have the regular IT team or service provider to figure out a ransomware attack, it is clear that our enterprises here in SEA need help. We advocate for cross-border and public-and-private cooperation that will help governments and companies to combat threats like ransomware. However, such is not the only answer. Enterprises here should really look into acting on concrete steps to upskill or even to build their own security defense team with intelligence-led incident detection and response capabilities,” adds Yeo.
Global cybersecurity company Kaspersky co-founded the global project called “No More Ransom Initiative” which has grown from four partners to 188 and has contributed 136 decryption tools covering 165 ransomware families.
Since its launch in 2016, it has helped more than 1.5 million people decrypt their devices all over the world. Nearly 30,000 ransomware victims from July last year to June end of 2022 in SEA were also able to retrieve their data through this project.
The project is done by Kaspersky along with the National High Tech Crime Unit of the Dutch National Police, Europol’s European Cybercrime Center, and other partners.
Kaspersky, however, puts emphasis on preventing a ransomware attack. The global cybersecurity company encourages businesses to follow these simple and effective recommendations to help protect their organizations against this threat:
- Always keep up-to-date copies of your files so you can replace them in case they are lost (e.g. due to malware or a broken device). These should be stored not only on a physical device but also in cloud storage for greater reliability. Make sure you can quickly access your backups in the event of an emergency.
- Install all security updates as soon as they become available. Always update your operating system and software to eliminate recent vulnerabilities.
- Provide security education to your staff. Explain that by following simple rules, employees can help prevent ransomware incidents. Check out dedicated training courses, such as the ones provided in the Kaspersky Automated Security Awareness Platform.
- Enable ransomware protection for all endpoints. There is a free Kaspersky Anti-Ransomware Tool for Business that shields computers and servers from ransomware and other types of malware, prevents exploits and is compatible with already installed security solutions.
- Enterprise companies are recommended to use anti-APT and EDR solutions, enabling capabilities for advanced threat discovery and detection, investigation and timely remediation of incidents, as well as to have access to the latest threat intelligence. An MDR provider could help to effectively hunt any advanced ransomware attack. All of the above is available within Kaspersky Expert Security.
If you become a victim, never pay the ransom. It won’t guarantee you get your data back but will encourage criminals to continue their business. Instead, report the incident to your local law enforcement agency and get help from incident response experts such as Kaspersky.
Companies can also try to find a decryptor on the internet – some of these are available at https://www.nomoreransom.org/en/index.html
TECHNOLOGY
Go beyond galaxy to witness real Magic on June 8
May 23, 2023, 5:42 p.m.
Launched at the Mobile World Congress 2023 earlier this year, the leading technology brand HONOR Philippines today dropped the release date of HONOR Magic5 Pro in the country.
As the latest iteration of the HONOR Magic Series line-up, the all-new HONOR Magic5 Pro boasts significant breakthroughs in design, display, photography and performance, beating several industry benchmarks to deliver the superb flagship smartphone on the market today.
Continuing the strong legacy of its flagship predecessors, the HONOR Magic5 Pro adopts enhanced hardware with discrete chipsets, and advanced technologies, combining the best software solutions to deliver a superior flagship that is a class apart.
To make a mark of its superb specs, HONOR linked up with the official Guinness World Records to snap a successful attempt at doing the highest between-the-legs slam dunk. Poland’s Piotr Grabowski achieved the feat at a facility in London in January 2023, and HONOR was there with the upcoming HONOR Magic5 Pro flagship to capture it.
Right after its global release, the HONOR Magic5 Pro has seized the #1 position in the DXOMARK Smartphone Display ranking for the first quarter of 2023. It is also highly recognized during MWC 2023, receiving awards from various tech authorities.
HONOR Magic5 Pro will be officially launched on June 8, 2023 and you can catch it live on HONOR Philippines’ Facebook Page (https://fb.me/e/T11UD2VR).
For more updates and announcements, you may visit HONOR’s website www.hihonor.com or social media platforms: Facebook (Facebook.com/HonorPhilippines), Instagram (Instagram.com/honorphilippines/) and TikTok: (Tiktok.com/@honorphilippines). To check out HONOR’s complete list of retail stores, go to https://www.hihonor.com/ph/retailers/.
TECHNOLOGY
Selling your verified digital wallet? Think again
May 19, 2023 9:29 p.m.
THE recent spate of selling and even rental of verified digital wallets in the country should not be taken lightly. It is, in fact, alarming because its owners or account holders risk losing their identities with far-reaching consequences, according to cybersecurity and digital privacy company Kaspersky.
Since 2022, the local media have been reporting various apprehensions by police authorities of individuals allegedly involved in buying and selling of verified digital wallet accounts. Registered SIM accounts with verified digital wallet accounts are currently being bought for P350 each. On social media, the rates even go as low as P150 per account. These are then sold for an average of P600-P800 each.
This kind of transaction is a cybercrime offense under Philippine laws. If proven guilty, both seller and buyer are up for some jail time and penalties from P100,000 to P500,000.
But what’s stored in a digital wallet?
A digital wallet is usually loaded with personal details of its owner such as full name, date of birth, nationality, phone number, email address, and mailing address. Once verified by the digital wallet company as a legitimate account, all financial transactions can be performed within the digital wallet app.
The transaction limit varies but the maximum amount that can be received or sent per account is as high as P500,000, bypassing the use of credit and debit cards that are regulated and normally require security checks.
Mobile digital wallets are a popular alternative financial service among Filipinos. Unfortunately, some digital wallet users think that selling their account isn’t really a big issue. They believe their accounts are not tied to any bank accounts with a lot of funds so there is nothing to extort from them. And getting a new SIM is cheap and easy and verifying their digital wallet accounts is hassle-free.
“We’ve witnessed how the Filipinos embraced the cashless lifestyle during the pandemic, out of necessity. The ease of access and convenience of digital wallets made everyone quite comfortable, with some now selling, renting out or even loaning their verified accounts. By doing so, cybercriminals do not need to put much effort into phishing anymore as Filipinos are practically giving away their personal data for a song, which is really dangerous,” says Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky.
“As sellers or lenders of their own digital wallet accounts, not only would they get into trouble with the law. Losing their identities is also very likely especially when their data gets into the hands of scammers. With enough information from you, scammers can already set up other financial accounts using your name and use your identity to benefit them. Possible scenarios would be getting harassed by a collection agent for a debt you’ve never owed. It could also mean losing out on job or education opportunities just because your name appeared with an unpleasant digital profile when searched,” adds Yeo.
What other damage can data thieves do?
By selling your verified digital wallet, you are essentially handing out your data to cybercriminals and helping them carry out their evil activities.
With your confidential information in their hands, data thieves can:
- Make purchases on your behalf
- Use your personal details in online gaming. Cybercriminals use stolen identities for doxing (publishing your home address and phone number online for profit, fun, or humiliation) and swatting (reporting a fake emergency to law enforcement agencies to come to your place to intimidate you)
- Use your personal information in online gambling. Fraudsters create networks of thousands of synthetic accounts, normally using stolen personal data and credit card information to accumulate bonus points and redeem their “winnings”. This particular type of fraud is extremely common in online poker and blackjack, where the result can be manipulated through game strategy.
- Add themselves or an alias they can control as an authorized user so it’s easier to use your credit.
- Use and abuse your Social Security number. Scammers may be able to take out loans and claim benefits under your name.
- You may be banned from using the services of your favorite digital wallet company if your name appears to have availed of its loan services and that you cannot pay.
- Sell your information to others who will use it for malicious purposes. Buying and selling of stolen personal information is big business on the dark web, the non-visible Web that can be accessed only by a specialized browser where cybercriminals provide illegal services to one another. Back in 2018, data from Kaspersky showed that criminals can sell someone’s complete digital life in the dark web for less than $50 (or P2,761, today’s forex). In 2020, the cybersecurity company shared that personal identity details such as full name, date of birth, email and mobile can fetch from $0.5 to $10 each (or P27.62 to P552.33).
Is there still a way to save your stolen identity?
Once you have handed over your SIM account with your personal data in it, it is not easy to undo it. Experts suggest replacing your email address and telephone address as well as changing all affected passwords in all of your social media and financial accounts. If you believe you have been victimized by identity fraud, you can lodge a complaint through the Cybercrime Investigation and Coordinating Center (CICC) here.
How else to protect yourself from identity theft?
- Keep data to a “need-to-know” basis. If someone is asking for your personal information, ask why they need it and how they will use it.
- Bank safely. Make sure that you log into financial websites using a secure connection all the time.
- Know who you’re dealing with. If you are requested for your personal or financial information, find out who they are, what company they represent, and the reason for the request. Contact the company to confirm before disclosing any of your personal data.
- Secure the data in your device. Use a security software to maximize your online safety, whether you transact using your personal details on your laptop, PC or mobile phone.
TECHNOLOGY
Infinix incorporates Sound by JBL to bring high-quality audio to next level of smartphones
May 18, 2023 2:09 p.m.
Shanghai – Infinix today announces its new collaboration with HARMAN’s legendary audio and technology brand, JBL, to bring Sound by JBL audio excellence to the next generation of their highly-regarded NOTE Series. At Infinix, the user experience is a top priority, and sound quality plays a fundamental role in that experience. Together with the 75-year legacy of acoustic quality and expertise that the brand is renowned for, the upcoming release of the NOTE Series will be enhanced by the Sound by JBL tuning along with the latest innovations from Infinix.
Users can look forward to an upgraded audio experience in the next generation of Infinix’s NOTE Series, thanks to this exciting new collaboration with JBL. Stay tuned for more information on the release date and features of the new series.
“We’re incredibly excited about our collaboration with the JBL brand here at Infinix. Our hardware expertise combined with JBL’s acoustic technology means we can provide an enhanced audio experience to customers worldwide. With a device that delivers upgraded sound quality, we’re confident we’re in exceeding users’ expectations.” – Liang Zhang, Deputy General Manager at Infinix.
Integrated with JBL Tech
When building the NOTE Series, Infinix collaborated closely with JBL engineers to optimize the software system of their new generation NOTE Series. The software processing within the Note series was tuned to deliver JBL’s signature sound that ensures well-balanced mid-tones as well as rich bass, along with high-quality and faithful sound reproduction.
Incorporating advanced audio processing engineered and perfected by JBL, the new Note Series with Sound by JBL will deliver enhanced audio with distortion-free volume, deeper bass and JBL’s signature sound that users will enjoy, especially when listening to music or watching videos. This technological breakthrough demonstrates Infinix and JBL’s commitment to providing innovative products with superior sound quality.
“The JBL brand is all about delivering the fullest sound experience, and we are therefore extremely proud to collaborate with the Infinix team to deliver superior audio through Sound by JBL. Rooted in a shared passion for sound, we know the Infinix team is committed to audio excellence in their mobile devices, and we will continue to work together bringing upgraded sound quality to more consumers as we look forward to deepening our cooperation with Infinix for more product development.” – Roumu Hu, Vice President and General Manager, HARMAN Embedded Audio.
Availability
Infinix intends to introduce this new technology in their upcoming phone models, starting with the next release of the NOTE series. The launch is scheduled for May, so customers can look forward to experiencing the enhanced sound quality of this innovative technology very soon.
Infinix Incorporates Sound by JBL to Bring High-Quality Audio to the Next Level of Smartphones
Shanghai, May 17, 2023 – Infinix today announces its new collaboration with HARMAN’s legendary audio and technology brand, JBL, to bring Sound by JBL audio excellence to the next generation of their highly-regarded NOTE Series. At Infinix, the user experience is a top priority, and sound quality plays a fundamental role in that experience. Together with the 75-year legacy of acoustic quality and expertise that the brand is renowned for, the upcoming release of the NOTE Series will be enhanced by the Sound by JBL tuning along with the latest innovations from Infinix.
Users can look forward to an upgraded audio experience in the next generation of Infinix’s NOTE Series, thanks to this exciting new collaboration with JBL. Stay tuned for more information on the release date and features of the new series.
“We’re incredibly excited about our collaboration with the JBL brand here at Infinix. Our hardware expertise combined with JBL’s acoustic technology means we can provide an enhanced audio experience to customers worldwide. With a device that delivers upgraded sound quality, we’re confident we’re in exceeding users’ expectations.” – Liang Zhang, Deputy General Manager at Infinix.
Integrated with JBL Tech
When building the NOTE Series, Infinix collaborated closely with JBL engineers to optimize the software system of their new generation NOTE Series. The software processing within the Note series was tuned to deliver JBL’s signature sound that ensures well-balanced mid-tones as well as rich bass, along with high-quality and faithful sound reproduction.
Incorporating advanced audio processing engineered and perfected by JBL, the new Note Series with Sound by JBL will deliver enhanced audio with distortion-free volume, deeper bass and JBL’s signature sound that users will enjoy, especially when listening to music or watching videos. This technological breakthrough demonstrates Infinix and JBL’s commitment to providing innovative products with superior sound quality.
“The JBL brand is all about delivering the fullest sound experience, and we are therefore extremely proud to collaborate with the Infinix team to deliver superior audio through Sound by JBL. Rooted in a shared passion for sound, we know the Infinix team is committed to audio excellence in their mobile devices, and we will continue to work together bringing upgraded sound quality to more consumers as we look forward to deepening our cooperation with Infinix for more product development.” – Roumu Hu, Vice President and General Manager, HARMAN Embedded Audio.
Availability
Infinix intends to introduce this new technology in their upcoming phone models, starting with the next release of the NOTE series. The launch is scheduled for May, so customers can look forward to experiencing the enhanced sound quality of this innovative technology very soon.
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Selling your verified digital wallet? Think again
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