The government is pushing reforms in the e-commerce sector as digital services skyrockets but warned that increased digital transactions might also lead to an increase in cybercrimes.
Undersecretary Rosemarie G. Edillon of the National Economic Development Authority (NEDA) said that better connectivity in the Philippines is necessary to boost e-commerce, which is possible by amending foreign investment and public service laws that pave the way for the telco sector.
Edillon explained that reforms would “reduce the digital divide by lowering barriers to market entry and increase available spectrum for internet connectivity” and “streamline permit requirements for network deployment to reduce cost.”
However, Finance Secretary Carlos G. Dominguez III warned the public that the current e-commerce boom might also result in increased crimes on the internet.
The allegations of increasing cyberattacks are not unfounded, with the recent reports of phishing and scamming activities against banks and businesses on the internet becoming worrisome.
The World Health Organization had discovered that online crimes became rampant since the COVID-19 outbreak, issuing warning that cybercriminals could exploit the cyberspace and target the public.