Ace Acedillo, president of the Philippine Institute of Cybersecurity Professionals, said an executive order is a concrete step against a recent string of cyberhack attacks on the websites of several government agencies and private institutions.
He added that there are “working models” Malacañang can base the orders on, like those of the Bangko Sentral ng Pilipinas regulations on banks and financial institutions as well as the Government Commission for GOCCs on regulating government corporations. He added that this agency’s mandate should be surveillance and intelligence gathering, monitoring and quick damage control, retrieval of lost or stolen data and identification of hackers, cyber syndicates and terrorists.
Makati City Rep. Luis Campos Jr. is pushing for the allocation of P3 billion in additional funding to build up the capabilities of the Cybercrime Investigation and Coordinating Center , which integrates the cybercrime-fighting divisions of the Department of Information and Communications Technology, National Bureau of Investigation, Philippine National Police and the Department of Justice.
Cybercrime costs include stolen money, data damage and destruction, lost productivity, personal and financial data theft, intellectual property theft, embezzlement, fraud, post-attack business disruption, forensic investigation, restoration and deletion of hacked data and systems.