Digital Threats Still A Huge Issue in SEA

Kaspersky, a global cybersecurity company, has warned businesses to tighten data security measures to protect their operations from digital threats. According to Yeo Siang Tiong, General Manager of Kaspersky Southeast Asia, cyberhackers are becoming more sophisticated with their strategies, making it increasingly important for businesses to establish security teams to protect their data.

One particular type of cybercrime is on the rise is ransomware, which involves hackers stealing data or information from institutions like banks and then demanding payment to release it. Tiong noted Kaspersky has been observing the increasing use of ransomware by cybercriminals.

Kaspersky’s 2022 report highlights many businesses are still not aware of ransomware and have not established security teams to protect their data and address potential cyber threats. Last year alone, over 304,000 ransomware attacks were traced in Southeast Asia, with 21,000 occurring in the Philippines. Such attacks increase opportunity costs and impede operations, resulting in lost money and time for businesses.

Unfortunately, the report also revealed half of the businesses lack knowledge in handling cyberattacks or digital threats, and only 5% have a team dedicated to addressing any cybercrimes.

To address these challenges, Kaspersky suggests the best course of action is to have an integrated, unified platform to target the threats. By implementing such a system, businesses can proactively protect their data and operations from potential cyber threats.