Malaysia tech firm Efficient launches regional service to curb cybercrime
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Efficient launched a new regional cybersecurity solution on digital threats across Asia-Pacific and South Asia on Feb 5, 2018.
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KUALA LUMPUR - Efforts to curb cybercrime such as data theft or hacks will need crossborder expertise, according to Malaysian technology firm Efficient which launched on Tuesday a new regional cybersecurity solution on digital threats across Asia-Pacific and South Asia.
According to Efficient's chief executive Victor Cheah, the public-listed company already has customers regionally including in Singapore, and supporting its Vigilant Asia service in markets outside Malaysia.
"Within Asean, you have a big gap between countries. You can have the best infrastructure... people who look for a launchpad for attacks look for the weakest link," he told The Straits Times.
Vigilant Asia will be based in Efficient's headquarters just outside Kuala Lumpur, but it could disperse its regional cybersecurity operations centre (RSOC) to other locations depending on demand.
The service boasts six integrated regional threat intelligence databases and looks to double this in a year.
Among interested partners is Singaporean fintech outfit Nufin Data, whose chairman is former trade and manpower minister Teo Ser Luck.
"What we do, data is very sensitive and we need a solid protective network. There are many areas we can collaborate as we are also trying to stretch out into various parts of Southeast Asia," he told The Straits Times.
Singapore passed the Cybersecurity Bill on Monday just ahead of hosting a Asean foreign ministers meeting this week where it seeks to prioritise cybersecurity as an agenda for the regional bloc that the republic chairs for 2018.
In September, Singapore set aside S$1.5 million over the next three years to assist Asean partners in boosting their ability to combat cyber threats.
There has been increasing concern over cybersecurity globally, but especially in the region after high-profile attacks last year.
In 2015, Asia-Pacific accounted for more than a quarter of the US$315 billion (S$416 billion) lost to cyber attacks worldwide.
Malaysia is still investigating a data breach which saw over information on 46 million mobile phone accounts - practically the entire industry - being put for sale since last year.
There were 7,962 reported cases of cybercrime according to the Malaysia Computer Emergency Response Team last year.
In Singapore, 2017 saw Starhub's home internet service disrupted for two days, while personal data of 850 servicemen and defence ministry officers were stolen.
