News & Events

News & Events

13 August 2018

Are you secure enough?

Does Security scare you? Are you paranoid about security? Is your enterprise secure enough?

These are tough questions, and here are some touch answers: No, security should not scare you; a lack of security should not scare you; a lack of security should. Yes, you should be paranoid about security. No, your enterprise is never secure enough. That is why security – especially data security and cybersecurity – should be one of your top concerns when it comes to your corporate policy and philosophy.

That is generally true for all enterprises, but it is even more so for Malaysian ones. Why? Because the data more so for Malaysian ones. Why? Because the data on security incidents in the country should wake you up, if not scare you.

Last year, the Malaysian Computer Emergency Response Team (MyCERT) recorded 2.9million spam email malware hits from botnets; 1.2 million span email, some of which contained code to infect users; and 8,000 targeted security incidents. In the first half of this year alone, botnet-based hits reached 1.7 million, spam email crossed 754,000 and security incidents rose to 3,200. Targeted security incidents included fraud, intrusion, cyberharassment and Denial of Service (DoS) attacks.

MyCERT has been tracking the country’s cybersecurity levels since it was set up in 1997. It operates the Cyber999 Help Centre and the Cybersecurity Malaysia Malware Research Centre. Such concerted efforts are required because no entity is free from the cancerous claw of cybercriminals.

Not even Bank Negara Malaysia. On March 27, cybercriminals sent fraudulent messages on the SWIFT (Society for Worldwide Interbank Financial Telecommunication) platform to transfer funds in a modus operandi akin to the US$81 million that was fraudulently transferred from Bangladesh Bank. Alert Bank Negara officials foiled the attached, but this was a wake-up call to banks worldwide.

Read more at Are You Secure Enough – Raju Chellam The Edge.pdf