Vendors providing penetration testing as well as managed SOC monitoring services have up to six months until October to apply for a licence from Singapore's Cyber Security Authority, or cease the provision of such services.
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While they have shared more personal data now than they did two years ago, 50% of consumers in Singapore and Australia will stop using services from companies that suffer a security breach, higher than the global average of 43%.
Cyber Security of Singapore introduces two certification programmes to identify small and midsize businesses that have adopted baseline cybersecurity measures and large enterprises with robust cybersecurity practices.
Expected to be operational by year-end, the Singapore Armed Forces' digital intelligence unit will look to boost the country's defence against threats in the digital space, which has seen growing and increasingly sophisticated attacks.
Financial services and manufacturing sectors bore the brunt of attacks, taking on almost 60% of cybersecurity incidents in the region where Japan, Australia, and India were the most targeted markets, according to IBM data.
Most Singapore IT leaders cannot identify fake messages, but only half concerned about phishing risks
Just 4% of IT decision-makers are able to correctly identify phishing email and SMS messages, but 47% remain unconcerned about such risks in their organisation.
Almost half of businesses in Asean have brought up cybersecurity issues at the board level, with 68% boosting their security budgets and 46% looking to plug existing security gaps.
No reports of immediate threats yet, but Singapore's cybersecurity agency has issued an advisory note for local organisations to bolster their online systems and safeguard their data against possible cyber attacks.
Asian nation unveils plans to encourage organisations in the sector to trial new additive manufacturing initiatives and build up cybersecurity capabilities.
Government debates a new bill that will tighten regulations of digital token service providers and push the maximum penalty financial institutions face to SG$1 million for each breach, and higher if multiple parties are affected.