May 1 - 20 , 2017 PHILIPPINE ASIAN NEWS TODAY BUSINESS NEWS 13
Bangko Sentral warns banks against ransomware attacks
The Bangko Sentral ng Pilipinas on Tuesday asked banks and other financial institutions to become vigilant and build “ multiple layers of defenses ” in the wake of the recent ransomware attacks , or cyber-extortions .
Bangko Sentral Deputy Governor Nestor Espenilla Jr ., who will succeed Amando Tetangco Jr . as governor in July , issued a memorandum warning domestic financial institutions about an increased risk of loss or unauthorized disclosure of propriety or sensitive information , operational disruptions and financial losses because of ransomware attacks .
“ Ransomware remains a viable threat that is expected to evolve to more sophisticated and destructive forms , such as crypto-ransomware . Webbased applications , including legitimate cloud-based services , are particularly vulnerable to this type of threat ,” Espenilla said .
“ In this regard , financial institutions are advised to heighten their vigilance and ensure that robust protection
The chairman of GMA Network Inc . is open to revive talks for the sale of a majority stake in the broadcast network .
“ I am not the one reviving . The buyers are the one trying to revive . As of now we are not talking , but we are going to talk ,” GMA Network chairman and chief executive Felipe Gozon said .
“ We are open anytime , but the offer must be
CLARK , Pampanga : Wakay Air Services on Wednesday officially launched its Clark-Bagabag-Clark inaugural flight , cutting land travel to one hour and 45 minutes from eight hours .
The inaugural flight along with a sendoff ceremony for some 37 passengers of the maiden flight ( with road trip to Banaue / Sagada ) was held at the Domestic Passenger Terminal of the Clark International Airport .
T o u r i s m against ransomware is in place . Financial institutions should provide multiple layers of defenses by implementing appropriate controls at the host , network , and endpoint level to prevent and detect malicious codes ,” he said .
Bangko Sentral said banks and other financial institutions should “ refrain ” from paying or communicating with suspected individuals as this “ does not guarantee that ransomed or encrypted files will be released .” It said paying would only encourage these criminals ’ illicit activities .
Bangko Sentral said the “ least privilege ” principle in granting access to all systems and services must be applied and prohibit the download and use of unauthorized files and software , and access to doubtful websites .
Banks are also encouraged to install and timely update their antimalware software provided by reputable vendors , periodic vulnerability scanning and effective patch management procedures for all systems
acceptable to us ,” he said .
Gozon said the owners were talking to the same interested potential investor .
The Gozon , Jimenez and Duavit families own a combined 79 percent of the network , which airs on Channel 7 on free TV .
Majority shareholders of the broadcaster earlier agreed to sell about 30 percent of the company to businessman Ramon Ang ,
Clark-Bagabag-Clark flight launched
Undersecretary for Tourism Regulation , Coordination & Resource Generation Alma Rita Jimenez ; Frederick Alegre , assistant secretary for Office of Public Affairs , Communications and Special Projects , and Clark International Airport Corporation President Alex Cauguiran graced the occasion .
The Department of Tourism earlier announced the new route up north to the world-renowned Banaue Rice Terraces via Clark International
BSP Deputy Governor Nestor Espenilla Jr .
and applications .
“ To mitigate the potential catastrophic impact of ransomware attacks , financial institutions should ensure that adequate backup and recovery procedures .... are in place ,” Bangko Sentral said .
Espenilla said any incidents involving cyberextortion and other types of cyber-related crimes should be reported to Bangko Sentral and in some instances , they must seek the assistance of enforcement authorities for prompt resolution of the cases .
Espenilla , after his appointment by President Rodrigo Duterte last week as the next Bangko Sentral
GMA-7 open to investors
but the negotiation bogged down after more than a year of talks .
Talks with the group of Philippine Long Distance Telephone Co . also fell through over price and regulatory issues .
The broadcast firm posted a net income of P842 million in the first quarter , down by 17 percent from last year ’ s P1.01 billon .
Revenues , minus
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PNT Foreign Exchange $ 1.00 Cdn = P36.61 Php $ 1.00 US = P 49.76 € 1.00 EUR = P 55.53 ₤ 1.00 GBP = P 64.53 D1.00 BHD = P 132.00 R1.00 SAR = P 13.27 ¥ 1.00 JPY = P 0.45
governor , said he would push for the expansion of the antimoney laundering law and relaxation of the deposit secrecy law in a bid to further protect the consumers and have a safe and stable financial system .
He said expanding the anti-money laundering law , including casinos , was one of the biggest challenges he would face in his term .
In February 2016 , cyber thieves stole $ 81-
political advertisements , increased 15 percent to P3.76 billion from P3.26 billion last year . Including political ads , revenues in the period fell 4 percent .
Political ads contributed P640 million to the company ’ s top time in the first quarter last year .
“ Even without political ads , we are tracking a stronger year financially and we expect to achieve our growth targets
million from the account of Bank of Bangladesh in Federal Reserve in New York . The dirty money entered the local financial system through a Makati branch of Rizal Commercial Banking Corp . and eventually laundered by a number of individuals in local casinos .
Espenilla said BSP has a critical role to prevent the entry of dirty money in the country . ( J . Rada , MS ) .
in 2017 ,” Gozon said .
Gozon said the company ’ s profit guidance for the year was over P3.9 billion . Last year , the network posted a net income of P3.65 billion , up from P2.13 billion in 2015 . ( D . Amojelar , MS ) .