Your Company Holds Valuable Information to Hackers

Your Company Holds Valuable Information to Hackers

Cyber threats are borderless. According to a research conducted by Trend Micro, Singapore receives about 550 cyber threats every day. Some companies might think that they are safe from cyber threat, in fact, anyone can be the hacker’s target.

Your Company Holds Valuable Information to Hackers2015 Internet Security Report pointed out that 60 percent of all cyber-attacks are on SMEs. Cyber criminals are targeting the smaller business as a way of entering into larger companies. Since 99 percent of the registered companies are SMEs in Singapore, SMEs need strong cyber security going forward as they move to e-commerce for their business growth.

SMEs depend on their phones to do business. Sending e-mail, conducting online banking and other transactions via their smartphones. This leads to high exposure to malware. Apart from that, usage of pirated software and inadequate security controls in the systems increased the possibility of exploits and frauds.

Experts warn that small and medium-sized enterprises (SME) are increasingly becoming the soft targets for hackers. SMEs are easier to target as they often lack of resources, expertise and technical manpower to defend themselves against cyber threats. Hackers have realised the booming economy of APAC region and the security lag in the region, which prominently seen in recent incidents.

The Cyber Security Agency of Singapore (CSA) encourages taking a risk–based approach to cyber security, balancing the cost, risks and potential impact of the cyber threats. Alongside with the new opportunities and risks as Singapore’s cyber landscape evolves, CSA will continue to reach out to the SME and public to raise their awareness of the importance of cyber security.

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SMEs are encouraged to understand and incorporate cyber security as a business risk, taking responsibilities for investing in cyber security. It is an opportunity for organisations to assure their customers on how the data is secured. Some IT solutions will incur costs, but there are quick and relatively low measures, such as ensuring regular back up of your company data and software updates and employee education.

If you require any assistance, please feel free to contact IT Solution.

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