Cyber-attacks are increasing globally, including in Asia, and particularly Vietnam
The Global Risk Report published by the World Economic Forum with Marsh McLennan’s support and several other partners ranked cybersecurity failure as a critical threat to the world.In ASEAN region, the region’s top cyber security threats include Business E-mail Compromise, Phishing, Ransomware, E-commerce data interception, Crimeware-as-a-Service, Cyber Scams, Cryptojacking.
In Singapore, common cyber threats include malicious cyber activities such as website defacements, phishing incidents, and malware infections. The cyberattacks leading to those threats being exploited are commonly targeting the human. Singapore also witnessed a rise in cyber threats targeted at various local industries such as e-commerce, banking, and finance.
Vietnam, which I discuss in the below interview, has not been dismissed from cyberattacks. The country has experienced a spike in online scams, due to the rapid digitization following the pandemic.
It is critical to act and empower general users when it comes to cybersecurity. Today, technology is a complete part of our lives. Thus, it must be addressed as everyone’s responsibility.
As general advice, every organization should invest in training their employees against social engineering. Social engineering fraud refers to various techniques used by fraudsters to deceive and manipulate victims into voluntarily performing actions that result in them giving out confidential information or transferring funds. Techniques vary and can include: emails that purport to be sent from employees, vendors, clients, customers, or other organizations; phone calls, text messages, or even leaving a malware-infected USB stick lying around an office.
Attackers consolidate information from various sources such as social media and intercept correspondence to appear convincing and trustworthy while perpetuating cybercrime. These schemes’ often complex nature makes it extremely difficult to identify the fraud before it is too late. Victims range from individuals, small businesses to large organizations across many industries and geographies. Everyone is a target. The fraudsters are not selective and will often adopt a quantity-based approach to see what response they can get from a fraudulent communication. Source: The Basics of Commercial Crime Insurance
Lastly, the Internet does not have borders, and cybercrimes, including online scams, are performed by criminals using technology from everywhere. Users need always to remember that they might be exposed to criminals based on other countries when doing online activities. They must understand that an online identity might be compromised and discussing it with someone online does not guarantee that it is the same physical person behind the online profile.
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My bio is below:
Magda Chelly is currently leading Cyber Advisory for Marsh Asia. She is also the founder of WoSEC (Women of Security) Singapore Chapter. She co-founded a cybersecurity startup Responsible Cyber in Singapore, currently valued at SGD 7 million. She has a PhD in Telecommunication Engineering, is a Certified Information Systems Security Professional (CISSP) and a Certified Information Security Officer (S-CISO). She held several Chief Information Security Officer roles for medium and large organisations across Asia and internationally.
Ms Chelly has built cyber security strategies for companies, and provided guidance; from governance and security architecture to security operations. She has a hands-on experience with penetration testing and technical cloud security across main cloud platforms (Amazon Web Services and Microsoft Azure). Ms Chelly is also a serial entrepreneur, and she has been nominated as a TOP 50 International cyber security influencer internationally and is among “58 Women In Cybersecurity To Follow On Twitter”.
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