Solutions for SME cybersecurity challenges

PRESIDENT Ferdinand Marcos Jr. launched the first phase of the National Fiber Backbone (NFB) project in a significant move toward digital empowerment. This initiative is set to help small and medium enterprises (SMEs) thrive in the digital economy. But, heightened risks could occur. Data from Risk Recon, a Mastercard company, showed cyberattacks on SMEs surged by 152 percent from 2020 to 2021 compared to 2018 to 2019, a rate twice as high as that for larger companies. Recovering from these attacks can devastate SMEs, especially those already struggling with loans and other expenses in a high-interest environment.

In an email interview, Fabio Fratucello, field chief technology officer of global cybersecurity leader CrowdStrike, discussed the cyberthreats SMEs face as they increase digital connectivity.