Page 6 - index
P. 6
RESEARCH, ANALYSIS & TRENDS
Are you cyber ready for 2017?
Cyber security received heightened interest in 2016 due “As BECs are relatively easier to execute and evade
to a spate of cyber-attacks in the region, such as for cyber defense tools better than other popular attack
instance the one on the database of 55 million voters at vectors such as ransomware and APTs, it can poten-
the Philippines Commission on Elections (COMELEC), tially be the main cyber threat in Asia,” noted Charles
the National Payment Corporation of India (NPCI), Lim, Industry Principal, Cyber Security practice, Frost &
US$81 million cyber heist at the Bangladesh Central Sullivan, Asia Pacific.
Bank, and the massive data leaks as shown by the Ya-
hoo data incidents. 2. DDoS attacks might cause the Internet to be
down for an entire day in a country
As evidenced by the above, cyber-attacks can impact
any industry at any time. In fact, as more industries be- Globally, Distributed Denial of Service (DDoS) volumet-
come increasingly connected to the Internet due to the ric attacks hit over 1 Tbps of traffic and shut down sev-
Internet of Things (IoT), it is more essential than ever to eral popular online services in 2016. Whilst government
make sure your organization is cyber ready for 2017. authorities grapple with ensuring strict security regula-
Hence, you might want to consider Frost & Sullivan’s tions and manufacturers continue to deliver insecure
Asia Pacific Cyber Security predictions for 2017 and IoT devices to the market, coupled with the fact that
read what their analysts have to share: internal volumetric attacks to DNS servers for service
providers are not well defended, cyber attackers will
1. Business Email Compromise (BEC) attacks will most likely attempt to exploit the vulnerability to the
overtake Ransomware and Advanced Persistent next level and bring down the internet in a country for at
Threat (APT) attacks least a day.
BEC generally happens when email accounts of key 3. Greater enforcement expected for Internet of
executives are compromised and involves payments Things devices to meet cyber security standards
made to fraudulent bank accounts. In Singapore alone,
about S$19 million has been lost through BECs be- As authorities become increasingly concerned about
tween January to September 2016. There was an in- the threats unsecured IoT devices will pose to the com-
crease of 20% in number of such cases as compared to munity, it will be illegal for these manufacturers to sell
the same period last year. Police investigations re- their products in countries that demand these devices
vealed that the scam usually involves businesses with comply with security standards. The recent Mirai bot-
overseas dealings with email as the main form of com- nets exploiting the vulnerabilities of IP cameras are an
munication in the dealings. example of how manufacturers did not include a securi-
ty process of changing default passwords when con-
necting the devices to the Internet.
6 January 2017 - Digital Marketing Trends & Predictions
Are you cyber ready for 2017?
Cyber security received heightened interest in 2016 due “As BECs are relatively easier to execute and evade
to a spate of cyber-attacks in the region, such as for cyber defense tools better than other popular attack
instance the one on the database of 55 million voters at vectors such as ransomware and APTs, it can poten-
the Philippines Commission on Elections (COMELEC), tially be the main cyber threat in Asia,” noted Charles
the National Payment Corporation of India (NPCI), Lim, Industry Principal, Cyber Security practice, Frost &
US$81 million cyber heist at the Bangladesh Central Sullivan, Asia Pacific.
Bank, and the massive data leaks as shown by the Ya-
hoo data incidents. 2. DDoS attacks might cause the Internet to be
down for an entire day in a country
As evidenced by the above, cyber-attacks can impact
any industry at any time. In fact, as more industries be- Globally, Distributed Denial of Service (DDoS) volumet-
come increasingly connected to the Internet due to the ric attacks hit over 1 Tbps of traffic and shut down sev-
Internet of Things (IoT), it is more essential than ever to eral popular online services in 2016. Whilst government
make sure your organization is cyber ready for 2017. authorities grapple with ensuring strict security regula-
Hence, you might want to consider Frost & Sullivan’s tions and manufacturers continue to deliver insecure
Asia Pacific Cyber Security predictions for 2017 and IoT devices to the market, coupled with the fact that
read what their analysts have to share: internal volumetric attacks to DNS servers for service
providers are not well defended, cyber attackers will
1. Business Email Compromise (BEC) attacks will most likely attempt to exploit the vulnerability to the
overtake Ransomware and Advanced Persistent next level and bring down the internet in a country for at
Threat (APT) attacks least a day.
BEC generally happens when email accounts of key 3. Greater enforcement expected for Internet of
executives are compromised and involves payments Things devices to meet cyber security standards
made to fraudulent bank accounts. In Singapore alone,
about S$19 million has been lost through BECs be- As authorities become increasingly concerned about
tween January to September 2016. There was an in- the threats unsecured IoT devices will pose to the com-
crease of 20% in number of such cases as compared to munity, it will be illegal for these manufacturers to sell
the same period last year. Police investigations re- their products in countries that demand these devices
vealed that the scam usually involves businesses with comply with security standards. The recent Mirai bot-
overseas dealings with email as the main form of com- nets exploiting the vulnerabilities of IP cameras are an
munication in the dealings. example of how manufacturers did not include a securi-
ty process of changing default passwords when con-
necting the devices to the Internet.
6 January 2017 - Digital Marketing Trends & Predictions
