Number of data breaches Philippines 2020-2023, by quarter

Incidents of data breaches in the Philippines reached roughly 0.14 million during the fourth quarter of 2023, indicating an increase from the previous quarter. The number of data breaches peaked in the second quarter of 2020 at the height of the COVID-19 pandemic. 

Challenges in cybersecurity

As one of the countries in Asia with the highest internet penetration, Filipino online users have been surfing the web to access social media and other entertainment platforms. Recently, particularly at the height of the global pandemic, Filipino internet users also adopted online shopping and digital payment services for their essential and non-essential needs. With the increased digitalization of most services comes the heightened risk of being a victim of cyber threats such as phishing, online scams, data theft, and mobile malware. Such incidents were especially prominent among users lacking cyber hygiene or those unaware of how to protect their personal information when doing their online transactions.

Cybersecurity market insights

Despite the increased risks of online threats in the Philippines, the cybersecurity market remains modest compared to other countries. In particular, the Philippines ranked 12th out of 14 among countries in the Asia-Pacific region regarding the size of its cybersecurity market and was forecast to grow to about 344 million U.S. dollars in 2028.