Smarting from last February’s $81-million computer heist in its central bank, the Bangladeshi government has ramped up efforts to boost its security capabilities, which includes learning about best practices from the Philippine private sector.
Ranking Cabinet officials from the People’s Republic of Bangladesh recently visited the country to learn about the ins and outs of the business process outsourcing (BPO) and information and communications technology (ICT) industries, especially on issues involving cybersecurity. Their top concern was the need for clear strategic directions on cybersecurity initiatives.
The visit was organized by the Asian Institute of Journalism and Communication (AIJC) in collaboration with Management and Training International (MTI) Limited in Bangladesh. It included workshops and visits to private, government and academic institutions like the ICT Office of the Department of Science and Technology (DOST), the IT and Business Process Association of the Philippines (IBPAP), KLab Cyscorpions Inc., Asia Pacific College, Mapua Institute of Technology (MIT) and Now Corp.
During his lecture on this topic, Mel Velasco Velarde, CEO of Now Corp. and AIJC, discussed specific cases of security breaches experienced by big multinational firms such as Facebook, Wall Street Journal, Ubiquity, Barracuda, LinkedIn, Harmony and others including government-induced errors in cybersecurity.
Velarde emphasized the need for organizations to meet the 20-point “reasonable security” requirements prescribed by top global private and governmental cybersecurity agencies.
“Now Corp. has the capability of complying with these [security requirements] for our customers through our cloaking devices, real-time diagnostics and monitoring tools, counter-attack tools, cyber manpower and other technologies that help prevent hacking, malware, physical breaches or self-inflicted errors—the costs of negligence and non-compliance could run in the billions of pesos,” Velarde said.
He warned the security breach that happened to Bangladesh and elsewhere could happen again if these “critical security controls” were not complied with.
Now Corp. and AIJC committed to help the Bangladeshi government in their areas of expertise such as BPOs, knowledge economics, ICT and cybersecurity.
Velarde also pointed out how Now Corp.’s clients, mostly blue chip companies in the Philippines, were able to successfully implement the firm’s highly secure collaboration software and services, helping to ensure business success.
Velarde expressed willingness to partner with officials from various ministries as they develop and implement a strategic roadmap toward ICT and BPO development in Bangladesh.