This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.
When it comes to a cyber-attack, it is no longer a question of if your company will be hacked but when. Companies from 2 to 10,000 will get hacked. There's no question.
If you think that's bad news, then consider this: in Asia Pacific, enterprises were expected to spend US$230 billion in 2014 to deal with cyber breaches, and it wasn't enough. Organised crime accounted for US$138 billion in enterprise losses in the region, according to an IDC/NUS study. Sixty percent of security breaches are due to compromised credentials. The threat won't lessen as time goes on - cybercrime is profitable. In fact, it's now more profitable than the illicit drug trade - and it's a powerful magnet, attracting unscrupulous individuals, organized crime rings, and even nation states interested in doing 'bad' for profit.
With the advent of the third platform - mobile, social, big data, and cloud - the surface of attack for cyber criminals is just getting larger. Security measures of yesterday are struggling to cope with the speed of mobile adoption and how devices are now interconnected. Meanwhile, hackers are already onto the next stage of the game: it's a game of cat and mouse, and we, unfortunately, are the mice.
Governments are also getting in the game, with a number of countries in Asia ramping up measures to counter cybersecurity threats. In Singapore, for example, the Infocomm Development Authority of Singapore (IDA) introduced the Singapore National Cybersecurity Master Plan 2018 to provide the strategic directions to guide Singapore's national efforts in enhancing cyber security for public, private and people sectors. Singapore is by no means the only nation worried about cybersecurity: Japan, Indonesia, and other countries in the region have also put forward initatives to bolster efforts to address the clear threat cybersecurity poses.
This is the current threat landscape. It's scary - but by no means is it impossible to address. In fact, Asia Pacific is leading the world in digital security, according to PwC. Companies in the region are more likely to have an IT security strategy that is aligned to the needs of the business and to have a senior executive who communicates the importance of security. The Asia Pacific region remains a leader in implementing strategic processes and safeguards for information security, setting the pace in numerous practices. As with any potential threat - being prepared to deal with attacks is just as important, if not more so, than preventing attacks in the first place.
Let's put it this way: if a company with firewalls, and anti-spam, and anti-viruses all in place is a castle, they are well prepared for an attack that castles would naturally expect: armies with arrows, a catapult, hordes that can be repelled by ensuring they do not enter the castle.
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