A CYBERSECURITY advocacy said that there should be a law that needs to be crafted in order to encourage a greater collaboration when it comes to cybersecurity among private and public sector players.

TrustTech Movement Jonathan John Paz said that the e-commerce has increased over the past few years.

According Paz, part of the Enterprise Information Security Officer and Data Protection Officer of BPI, to which the greater information of sharing will be needed in terms of digital ecosystem.

"Sharing right now is tactical rather than strategic, absent what I have mentioned earlier, a robust legal and regulatory framework which encourages information sharing," Paz said in an interview aired over the ABS-CBN News Channel.

Paz said that Cybersecurity players are urged to share timely information as to who is behind cybercrime, instances of cyberattacks, and best practices on security. 

"There is such a thing as ransomware as a Service, offering tools and services and after sales," he said.