Singapore receives about 550 cyber threats every day, according to a new research by Trend Micro.
Trend Micro detected and blocked more than 10 million ransomware-related cyber threats in Asia Pacific (APAC) from January to May in 2016.
The total number of similar attacks exceeded 66 million globally during the same period.
While India, Taiwan and Thailand ranked the top three countries in APAC with the most number of threats; Singapore was at the 12th position on the list with 82,083 attacks on record so far.
"As Singapore builds the world's first smart nation, cybersecurity should become a national imperative ingrained in every organization's DNA. It is critical to be aware of the prevailing threats and ensure that we are equipped with the right defense strategy," said David Siah, country general manager, Trend Micro Singapore. "Regardless if you are an MNC, SME, or a government agency, no one is exempted from ransomware attacks; it is the next biggest threat that is wreaking havoc."
Spam emails and messages
Globally, 64 percent of ransomware-related attacks come from spam emails and messages.
A third (33 percent) of these attacks are spread via undermined sites, malvertisements, and landing pages that host exploit kits dispatched by cybercriminals.
Only two percent of these attacks originate from files, according to the report that indicates 50 new ransomware families were added in the first five months of 2016.
In Singapore, several ransomware families such as CryptoLocker are observed to be extraordinarily active compared to the others.
Jigsaw has also been widely deployed to attack Singapore-based organisations and individuals.
"Trend Micro is continually and actively assessing the ransomware threat landscape so that we can quickly act in accordance by providing the most targeted and advanced support to our customers in Singapore." added Siah. "We recommend that organizations start re-evaluating their cyber security strategies and devise a multi-layered approach against ransomware."
Sign up for CIO Asia eNewsletters.