The Securities and Exchange Commission (SEC) is urging corporations to strengthen their cybersecurity as more digital transactions occur during the coronavirus disease 2019 (Covid-19) pandemic. It also urged the boards of directors and senior management teams of these companies to ensure the effective confrontation of the cybersecurity risks they face. They “must ensure that a robust cybersecurity strategy is in place and that existing cybersecurity measures, including regular penetration testing and risk assessments, remain effective amid the evolving security landscape,” Aquino said. The pandemic highlighted the advantages of digital technology, as businesses shifted to low-touch and online-only services, according to the SEC. “The SEC has been advocating cybersecurity and data privacy in the corporate sector, integrating best practices and standards in various rules and regulations,” the commission said.

Source: Manila Times June 13, 2020 16:41 UTC