Philippines conglomerate MVP Group announced the formation of its own Cybersecurity Council with the aim of protecting its subsidiaries from cyber risks.
The Cybersecurity Council is established with compliance under the Data Privacy Act and Cybercrime Prevention Act in the Philippines.
“Cyber risks are business risks, and as they become more numerous, frequent and severe, the MVP Group must take steps to ensure coordinated mitigation, response and resilience cybersecurity measures across the member-companies and their respective industries,” said Angel Redoble, the CISO of PLDT Group and leader of the Council.
Members of the Council include local telecommunications behemoths PLDT and its subsidiary Smart, Metro Pacific Tollways Corp., Metro Pacific Hospital Holdings Inc., Maynilad Water Services Inc., Manila Electric Co., Philex Mining, Makati Medical Center, Mediaquest Holdings Inc., Metropac Movers, MVP Rewards and Keralty Philippines.
“The formation of this Cybersecurity Council highlights our Group’s commitment to ensure that our services — and in turn, our customers — are safe from cyber threats, and that effective, enterprise-grade cybersecurity solutions are available to safeguard the data of our customers across the group,” said PLDT Chairman and CEO Manuel V. Pangilinan, who will also be chairing the Council.
The State of Cybersecurity in the Philippines
This announcement by MVP Group comes at a time where cyberattacks in Philippines are at an all-time high due to nationwide remote work as a result of the COVID-19 pandemic.
The Philippines’ National Bureau of Investigation’s Cybercrime Division revealed that the country saw a significant increase in cybercrime since the lockdowns started in March. In April, PDLT had to issue a statement warning users of malware attacks. Then a month later, PDLT’s Twitter account was hacked, prompting the company to launch an investigation.
With the Council, MVP Group’s cybersecurity measures will be in line with the The Philippines 2022 National Cybersecurity Plan that aims to amp up consumer data privacy in order to make government networks, individuals and businesses secure.
“The plan is to work closely with the Government and the Department of Information and Communications Technology in cultivating awareness of cybersecurity issues,” said Mr. Redoble, who is also the Chairman and Founding President of the Philippine Institute of Cyber Security Professionals.
The Cybersecurity Council aims to be a leading force in developing and disseminating cybersecurity best practices in its members’ respective industries.
MVP Group is the largest conglomerate group in the Philippines with business activities in different sectors including telecommunications, medicine, mining, water and toll roads.
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