PH financial sector targeted by Chinese-linked cyber group: report

The group relies on financial-themed phishing lures.

The Philippines’ financial sector was directly targeted by e-crime group SOLAR SPIDER from January to May 2025, according to a CrowdStrike report.

The group relies on financial-themed phishing lures, such as those impersonating Swift and Western Union transaction-themed phishing lures, to deliver malware to its targets.

The report uncovers a Chinese eCrime network that fuelled the regional cybercrime. The marketplace Huione Guarantee, now shut down, alone laundered an estimated $27b from "pig butchering" and other scams.

This ecosystem offers services directly to local criminals, with the China-based hosting provider CDNCLOUD explicitly offering its services to Philippine users.