The Philippines is grappling with a daily onslaught of over 200,000 cyberattacks targeting telecommunications infrastructure, even as lawmakers push for legislation that could weaken regulatory oversight of the sector.

Department of Information and Communications Technology (DICT) Undersecretary Jeffrey Ian Dy revealed that the National Security Operations Center is currently tracking around 2 million cyberattacks daily, with telcos among the primary targets.

Government websites, academic institutions, and financial and healthcare sectors also frequently find themselves under siege.

“Fifty percent target government, 30 percent target academe.... ten percent target the telecommunications industry, the remaining 10 percent is usually banking, health sectors," Dy said

The proposed Konektadong Pinoy Act, or Senate Bill 2699, aims to streamline the entry of new telecommunications players by reducing regulatory hurdles. However, critics argue that the bill could compromise consumer protection and national security by diminishing the oversight powers of the National Telecommunications Commission (NTC).

CitizenWatch Philippines, a consumer advocacy group, expressed concern that the bill could transform the NTC into a mere registrar, limiting its ability to effectively regulate the industry.

Stratbase ADR Institute echoed these sentiments, urging lawmakers to carefully consider the potential risks of loosening regulations, particularly in the face of increasing cyber threats.

“We implore our lawmakers to take a second look at how, in our pursuit of connectivity, we may be opening ourselves up to abuses from entities that have malicious intent and whose goals may be different from what the law claims it wants,” Stratbase ADR Institute said in a statement.

Meantime, cybersecurity firm CYFIRMA highlighted the Philippines' vulnerability to cyber espionage due to a lack of cybersecurity awareness and infrastructure. Cloudflare, a global network provider, reported a 28 percent increase in cyberattacks against the Philippines in the first quarter of 2024, averaging five billion attacks per day.

In response to the escalating threat, various stakeholders, including government agencies and private companies, have formed alliances like PROTECTA Pilipinas to bolster the country's cybersecurity defenses. Globe Telecom, for example, has invested $90 million to strengthen its cybersecurity measures.

As the Konektadong Pinoy Act continues its legislative journey, a delicate balance must be struck between promoting competition and safeguarding the nation's digital infrastructure.