MANILA - The country needs to train new cybersecurity experts and upskill current practitioners as threats escalate and expertise remains "disproportionately inadequate," the Philippine Institute of Cyber Security Professionals (PICSPro) said Monday.

A study showed that Philippine firms spend millions to recover from ransomware attacks, PICSPro said in a statement.

Costs of ransomware attacks on Philippine firms have also risen by 42 percent compared to 30 percent last year, PICSPro said, citing a UK-based study.

Honing Filipino talents to become globally competitive "has never been as relevant" today, the group said.

“PICSPro’s commitment is anchored on our vision, which is to advocate for the highest level of cybersecurity here in the Philippines. The best way to do that is to make cybersecurity more accessible and train professionals and hone their skills, to the point where they become globally-competitive," PICSPro Chairman Angel Redoble said.

COVID-19 has helped increase dependence on digital channels but it has also attracted bad actors as online scams surged.

In the US, a ransomware attack on one of its main fuel pipeline networks caused a temporary shutdown and has sparked fears of a shortage in supply.

As of February this year, the Philippines was at 6th place in the global list of countries with the most web threats recorded, according to Kaspersky's 2020 Security Network (KSN) report.

There were 44.4 million web-borne threats in computers in the Philippines, the report said.

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