MANILA - The Asia Pacific is the world's top target for cyber criminals, who take advantage of outdated systems, according to internet security provider Trend Micro.
The region, which includes the Philippines, account for 35.7 percent of attacks in the first 6 months of 2017, Trend Micro said. These include the deployment of "ransomware," wherein attackers take control of computer systems and demand money from users before they regain access.
"Companies in the region need to better understand cyberattacks and prioritize funds accordingly for effective security,” said Richard Sheng, senior director for alliances and strategic channels for Trend Micro in the region.
Trend Micro said 118,193 online banking malware were blocked and detected this year. It also recorded 47 million downloads of mobile apps using "phishing" scams, that tricks users into revealing sensitive information.
Without proper tools, Trend Micro said businesses, governments and individual users remain at risk from cyber attacks.
The region played in one of the biggest cyber-heists in history when in February last year, unidentified hackers shifted $81 million from Bangladesh's foreign reserves to a Rizal Commercial Banking Corp branch in Makati City.
The money was stolen from Bangladesh's account with the New York Federal Reserve.