Singapore, One of the Top Countries With Least the Cybersecurity Risk

Singapore is above average when it comes to the risks of being targeted by cyber attacks, that is the disclosure published in the recently released cyberexposureindex survey, as it measures the exposure probability of a company to possible cyber attacks. As per the study, the rest of the world averages 45% of being not under the radar of typical cyber attacks and cybercriminal groups, a figure much lower than what Singapore recorded at 70%.

Singapore’s 677 companies have participated in the study, and with that number, only 4% were identified as actually at risk. The survey was conducted from the period of Oct 2017 to Oct 2018, with just 28 Singaporean companies recorded being in at the high risk, the country has made itself to the top three with the least cybersecurity risks.

Overall the survey conducted covered 6000+ global companies; they were subjected to a thorough investigation including their visibility from the dark web. The hidden part of the internet where discussions of what “entity to attack next” are being discussed by the cybercriminals. Firms that scores 0 are virtually not on the crosshairs of threat actors for at least a year, while a score of 300+ means the organization belongs to the group under the surveillance of cybercriminals as one of their leads, potentially becoming the next victim.

Aside from Singapore, Indonesia, and Hongkong which enjoys the least chance of being targeted, the countries of South Africa, Italy, Malaysia, Australia, Germany, United Kingdom, the United States, and Finland scored the worsts. This means companies headquartered on either of those countries mentioned should expect a cyber attack for the next 12-months, and they have the responsibility to increase their cyber defense capabilities within the same period.

In the days of big data, companies see customer information as the lifeblood of the organization itself. The lifeblood of the organization is what attracts cybercriminals to penetrate such organization, data is equivalent to money, as proven by the massive WannaCry ransomware attacks of 2017.

“Any level of cyber exposure, even if it if poses no immediate danger, can be damaging as it sows the seeds of sabotage. The growing interconnectivity of companies and complex dependency networks is creating expanded attack surfaces and endless virtual entry points that not only increases the threats of data breaches exponentially, but also the magnitude of the impact. It is therefore imperative for companies to know how cyber exposed they are,” explained Mikko Niemela, Chief Executive of Cyber Intelligence House.

Of course, the cybersecurity atmosphere is as dynamic as ever. Countries on top, the least attacked nations may see themselves one day becoming the prime targets. Companies need not be in the state of relaxation, as profit is the main goal of any cybercriminals and they have extensive research and development to improve their malware development, spam production, and spear phishing exploits.

“Mitigating data breaches begins with understanding where the critical information is stored, from where is it leaking and how it is exposed. The Cyber Exposure Index is the first step in this remediation and mitigation process by identifying existing threats and making them transparent to help companies who want to employ a proactive approach to identifying these loopholes within their organizations. It also helps investors compare the risk level between companies to make more informed decisions to grow their investment portfolios,” Niemela concluded.