Singapore firms see 54 cybersecurity incidents daily, struggle to keep up

Singapore firms see 54 cybersecurity incidents daily, struggle to keep up

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The cybersecurity menace scenery is evolving truthful rapidly companies successful Singapore are uncovering it pugnacious to support up. Half consciousness "inundated" by an endless watercourse of cyber attacks, describing this arsenic 1 of their biggest enactment frustrations. 

Just 25% of cybersecurity professionals successful Singapore felt "very confident" successful their organisation's quality to accommodate to caller threats, compared to an mean of 36% crossed the globe. Another 62% successful the Asian marketplace acknowledged they were struggling to support up with the evolving menace landscape, revealed a survey conducted by Coleman Parkes, which polled 500 cybersecurity decision-makers successful Singapore. They were portion of a planetary survey commissioned by information vendor Trellix that canvassed responses from 9,000 cybersecurity decision-makers from 15 markets, including India, Indonesia, Australia, Germany, the US, and the UK. 

Respondents successful Singapore connected mean had to woody with 54 cybersecurity incidents connected a regular basis, with 39% managing 50 to 200 specified incidents a day. Globally, 34% said they dealt with 25 to 50 information incidents a day, portion 25% had to negociate doubly arsenic galore daily. 

In Singapore, 80% said information breaches successful the past 12 months led to losses of up to 10% of their organisation's revenue. Respondents from midsize businesses with gross of betwixt $50 cardinal and $100 cardinal estimated their company lost an mean of 9% successful revenue, portion those from ample enterprises of gross betwixt $10 cardinal and $25 cardinal said losses averaged astatine 5% of revenue. 

Some 64% said their existent information tools did not enactment their information operations squad to relation with maximum efficiency, portion 35% confessed to having blindspots successful their protection. Another 90% said their cybersecurity infrastructure was "siloed". 

Some 38% said they were apt to instrumentality web detection and effect tools successful the adjacent 18 months, portion 36% pointed to information orchestration (NDR), automation and responses (SOAR), and 35% said they would instrumentality information accusation and lawsuit absorption (SIEM). 

"Siloed information systems are placing an unnecessary load connected overstretched SecOps teams, making organizations casual targets for malicious actors," said Trellix's Asia managing manager Jonathan Tan. "It's clip we cull siloed information arsenic the presumption quo and instrumentality factual steps towards gathering a much flexible, intelligent information model, which volition yet assistance to safeguard delicate data."

According to the survey, 45% globally cited employee error specified arsenic users downloading compromised files oregon clicking connected malicious links arsenic the apical cybersecurity menace their organisation faced. Another 39% pointed to insider threat, portion 34% said phishing and spear-phishing attacks arsenic the apical threats. 

Some 30% said ransomware attacks and 29% highlighted mediocre cyber hygiene arsenic apical cybersecurity threats their organisation faced. 

Asked astir their apical cybersecurity concerns, 44% cited precocious outgo of cybersecurity products and services, portion 39% pointed to difficulties detecting and responding to precocious threats and 36% were acrophobic astir having constricted menace quality and insights.

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