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State-sponsored hackers eye Singapore’s businesses for cyber ransom payoffs
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A whole-of-industry approach will boost the defence stance of local firms against cyber attackers, says an expert.
PHOTO: LIANHE ZAOBAO
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- Singapore firms are more likely to pay ransoms without negotiation and stay silent after breaches, unlike global peers, as per Verizon Business reports.
- Cyber criminals are exploiting software vulnerabilities and supply chains, with ransomware being a key factor in 51% of breaches, says Mr Robert Le Busque.
- Singapore's integration into global supply chains and high trade volume increase its risk of cyber attacks, with 72% of firms experiencing email compromise.
AI generated
SINGAPORE – State-sponsored hackers are increasingly targeting Singapore companies – not just to steal corporate secrets or to disrupt business operations, but also for profits.
Singapore firms are not helping, by being more likely than their global peers to pay up without negotiating ransom amounts, and to stay silent after suffering a breach.
