ACCORDING to recent statistics released by cybersecurity and digital privacy company Kaspersky, the Philippines ranked fifth among Southeast Asian countries with the highest number of phishing attacks in 2022, with a staggering 4,559,288 incidents. Vietnam took the lead with 17,847,857 attacks, followed by Malaysia (8,267,013), Thailand (6,283,745), and Indonesia (4,931,367).
The year 2022 witnessed a significant increase in global phishing attacks targeting users of delivery services, accounting for 27.38 percent of all blocked attempts by Kaspersky’s solutions. Scammers employed emails disguised as reputable delivery companies, deceiving recipients into believing there were issues with their shipments. These emails included links to fraudulent websites that requested personal and financial information. Falling victim to such scams could result in the loss of sensitive data, which cybercriminals often sell on the dark web.
Phishing attacks also targeted online stores (15.56 percent), payment systems (10.39 percent), and banks (10.39 percent). Kaspersky determined the ranking of targeted organizations based on the Anti-Phishing system’s detection of phishing content accessed through email links or the web.
Kaspersky’s Anti-Phishing system successfully prevented 43,445,502 phishing attempts directed at individual and enterprise users in the region, highlighting the necessity of protecting personal and corporate data from cyber threats.
A recent report from a leading superapp in Southeast Asia, known for providing delivery and mobility services in the Philippines, revealed that 70 percent of consumers consider delivery services an essential part of their lives. The convenience and immediacy of these services were cited as the primary reasons for their popularity. The report also emphasized that delivery platforms have become search engines for food and merchant discoveries among users in the Philippines.
The gross merchandise value of food delivery platforms in Southeast Asia experienced a 5 percent year-on-year increase, reaching a total of US$16.3 billion, primarily driven by growth in small markets, including the Philippines.
Adrian Hia, Managing Director for Asia Pacific at Kaspersky, emphasized the urgency of protecting personal and corporate data, stating, “Phishing remains the tried and tested modus operandi of cybercriminals due to its cost-effectiveness and profitability. Protecting corporate and personal data is an urgent necessity for everyone in the Philippines and the region.”
Previous studies conducted by Kaspersky revealed that the average cost of a data breach for small and medium businesses (SMBs) from 2017-2021 amounted to $104,400 (approximately P5.8 million). The highest recorded financial impact occurred in 2018 at $120,000, which decreased to $108,000 and $101,000 in 2019 and 2020, respectively, during the pandemic. The cost slightly rose to $105,000 in 2021.
The Cybercrime Investigation and Coordinating Center (CICC) reported that at least 73 percent of consumer data from micro-businesses in the Philippines has been compromised by cybercriminals.
Hia also warned that the trend of targeted phishing attacks, involving several introductory emails before launching the actual phishing attempt, is likely to continue. Furthermore, experts predict that new tactics will emerge in the corporate sector in 2023, generating substantial profits for attackers.
To avoid falling victim to phishing attacks, it is crucial to be able to recognize and report such attempts promptly. Employing antivirus and anti-phishing software is highly recommended, as they provide protection against spam and malware, ensuring the safety of personal devices and accounts.
