January 23, 2018, 1:51 am
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1 Philippine Peso = 0.07248 UAE Dirham
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1 Philippine Peso = 0.03513 Neth Antilles Guilder
1 Philippine Peso = 0.37432 Argentine Peso
1 Philippine Peso = 0.02466 Australian Dollar
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1 Philippine Peso = 0.01614 Euro
1 Philippine Peso = 0.03952 Fiji Dollar
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1 Philippine Peso = 0.01424 British Pound
1 Philippine Peso = 0.08955 Ghanaian Cedi
1 Philippine Peso = 0.95481 Gambian Dalasi
1 Philippine Peso = 177.50149 Guinea Franc
1 Philippine Peso = 0.14478 Guatemala Quetzal
1 Philippine Peso = 4.06335 Guyana Dollar
1 Philippine Peso = 0.15424 Hong Kong Dollar
1 Philippine Peso = 0.4645 Honduras Lempira
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1 Philippine Peso = 4.98796 Hungarian Forint
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1 Philippine Peso = 1.2595 Indian Rupee
1 Philippine Peso = 23.36688 Iraqi Dinar
1 Philippine Peso = 722.49855 Iran Rial
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1 Philippine Peso = 2.44306 Jamaican Dollar
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1 Philippine Peso = 21.05013 Korean Won
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1 Philippine Peso = 0.01618 Cayman Islands Dollar
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1 Philippine Peso = 0.33221 Moldovan Leu
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1 Philippine Peso = 26.54431 Myanmar Kyat
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1 Philippine Peso = 0.15887 Macau Pataca
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1 Philippine Peso = 0.24178 Namibian Dollar
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1 Philippine Peso = 0.6045 Nicaragua Cordoba
1 Philippine Peso = 0.15516 Norwegian Krone
1 Philippine Peso = 2.01397 Nepalese Rupee
1 Philippine Peso = 0.02711 New Zealand Dollar
1 Philippine Peso = 0.00759 Omani Rial
1 Philippine Peso = 0.01974 Panama Balboa
1 Philippine Peso = 0.06337 Peruvian Nuevo Sol
1 Philippine Peso = 0.06241 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.17782 Pakistani Rupee
1 Philippine Peso = 0.06737 Polish Zloty
1 Philippine Peso = 110.75588 Paraguayan Guarani
1 Philippine Peso = 0.07183 Qatar Rial
1 Philippine Peso = 0.07523 Romanian New Leu
1 Philippine Peso = 1.11021 Russian Rouble
1 Philippine Peso = 16.49398 Rwanda Franc
1 Philippine Peso = 0.07401 Saudi Arabian Riyal
1 Philippine Peso = 0.15294 Solomon Islands Dollar
1 Philippine Peso = 0.26317 Seychelles Rupee
1 Philippine Peso = 0.13811 Sudanese Pound
1 Philippine Peso = 0.15903 Swedish Krona
1 Philippine Peso = 0.02605 Singapore Dollar
1 Philippine Peso = 0.01423 St Helena Pound
1 Philippine Peso = 0.43825 Slovak Koruna
1 Philippine Peso = 150.5822 Sierra Leone Leone
1 Philippine Peso = 11.09138 Somali Shilling
1 Philippine Peso = 395.67793 Sao Tome Dobra
1 Philippine Peso = 0.17269 El Salvador Colon
1 Philippine Peso = 10.16341 Syrian Pound
1 Philippine Peso = 0.24082 Swaziland Lilageni
1 Philippine Peso = 0.62838 Thai Baht
1 Philippine Peso = 0.04813 Tunisian Dinar
1 Philippine Peso = 0.04392 Tongan paʻanga
1 Philippine Peso = 0.07512 Turkish Lira
1 Philippine Peso = 0.1331 Trinidad Tobago Dollar
1 Philippine Peso = 0.57902 Taiwan Dollar
1 Philippine Peso = 44.22736 Tanzanian Shilling
1 Philippine Peso = 0.56937 Ukraine Hryvnia
1 Philippine Peso = 71.46241 Ugandan Shilling
1 Philippine Peso = 0.01974 United States Dollar
1 Philippine Peso = 0.56325 Uruguayan New Peso
1 Philippine Peso = 160.3513 Uzbekistan Sum
1 Philippine Peso = 0.19686 Venezuelan Bolivar
1 Philippine Peso = 447.97712 Vietnam Dong
1 Philippine Peso = 2.03691 Vanuatu Vatu
1 Philippine Peso = 0.0496 Samoa Tala
1 Philippine Peso = 10.5818 CFA Franc (BEAC)
1 Philippine Peso = 0.05329 East Caribbean Dollar
1 Philippine Peso = 10.49813 CFA Franc (BCEAO)
1 Philippine Peso = 1.92441 Pacific Franc
1 Philippine Peso = 4.9329 Yemen Riyal
1 Philippine Peso = 0.24034 South African Rand
1 Philippine Peso = 102.41761 Zambian Kwacha
1 Philippine Peso = 7.14229 Zimbabwe dollar

Cybersecurity failures lead to huge business losses

BY Desmond G.E. Tribdino

NEARLY a billion dollars are lost globally when companies compromise their cybersecurity portfolio either by using the services of inexperienced third party supplier. This even as more companies are investing in cybersecurity.

Cybersecurity investment regardless of ROI have jumped to 63 percent in 2017 compared to 56 pecent last year. This is one of the interesting findings of a new study from online business specialist B2B International and cybersecurity expert Kaspersky Lab has found that the average cost of a cybersecurity incident is growing. 

According to the report ‘IT Security: cost-center or strategic investment?,” the most costly cybersecurity breaches for businesses of all sizes result from the failures of third parties, which means that companies should not only invest in their own protection, but also pay attention to that of their business partners.

Businesses are starting to pay more attention to cybersecurity, viewing it as a strategic investment, and the share of IT budgets are increasing.  Money being spent on IT security has reachedabout 23 percent of IT budgets in large corporations. 

This pattern is consistent across businesses of all sizes, including very small businesses where resources are usually in short supply. 

However, while security appears to be receiving a larger proportion of the IT budget pie, the pie itself is getting smaller. For example, the average IT security budget for enterprises in absolute terms dropped from $25.5M last year to $13.7M in 2017.
 
‘’While cybersecurity incidents involving third parties prove to be harmful to businesses of all sizes, their financial impact on a company has the potential to result in twice as much damage. This is because of a wider global challenge – with threats moving fast, but businesses and legislation changing slowly,” Alessio Aceti, Head of Enterprise Business Division at Kaspersky Lab says.

The biggest concern here for companies is that but security breaches, those little, sometimes unseen mistakes, flaw or loopholes in the security fabric of a company, are not getting cheaper to recover from. Ransomware attacks of the WannaCry proportions, for example, cost an average of $500 to recover from, and there is not assurance for a full recovery.

According to the study, this year, small and medium businesses paid an average of $87.8K per security incident (compared to $86.5k in 2016), while enterprises faced an even larger increase of $992K in 2017, compared to $861K in 2016.

Raising IT security budgets is only part of the solution, as the most staggering losses stem from the incidents involving third parties and their cyber-failures. 

Up to $140K were paid by companies for incidents affecting infrastructure hosted by a third party, while enterprises lost nearly two million dollars ($1.8M) as a result of breaches affecting suppliers that they share data with, and $1.6M because of IaaS (Infrastructure-as-a-service) providers’ insufficient levels of protection.

On the other hand, Kaspersky Lab offers solutions that cover the various needs of SMB and enterprise companies related to endpoint protection, DDoS protection, cloud security, advanced threat defense and cybersecurity services.

As soon as a business gives another organization access to its data or infrastructure, weaknesses in one may affect them both. This issue is becoming increasingly important as governments worldwide rush to introduce new legislations, requiring organizations to provide information about how they share and protect personal data. 

“When regulations like GDPR become enforceable and catch up with businesses before they manage to update their policies, the fines for non-compliance will further add to the bill”, says Alessio Aceti, Head of Enterprise Business Division at Kaspersky Lab.  

To help businesses with their IT security strategies, based on the industry threat landscape and specific recommendations, Kaspersky Lab introduces the Kaspersky IT Security Calculator. 

This business tool is an ultimate guide to the cost of IT security based on the average budgets being spent (by region, industry and company size), security measures, the major threat vectors, money losses and tips on how to avoid a compromise. 
 
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