Southeast Asia’s Growing Cyber Threats and Partnerships

In an increasingly interconnected world, the digital landscape presents both opportunities and challenges. Southeast Asia, known for its rapid economic growth and technological advancements, has become a hotspot for cybercriminals seeking to exploit vulnerabilities. On this episode of APAC Cybersecurity – Hosts Brian Fernandez & Benjamin Ang the Head, Centre of Excellence for National Security, RSIS, NTU, delve into the escalating cyber threats faced by countries like Thailand, Malaysia, and the Philippines.  

Key takeaways from the conversation:

1. Cybercrime is a significant threat in Southeast Asia, affecting countries like Thailand, Malaysia, and the Philippines. In Thailand, cybercrime has resulted in daily damages of approximately 2.5 million US dollars
2. Cyberattacks are not limited to sophisticated methods; some cases involve simple fraud tactics. However, in Malaysia, there was a notable cyber attack on Prudential, impacting personal data of agents and customers.
3. Paying ransom in ransomware attacks is not a reliable solution; research shows that nearly half the time, paying does not guarantee data recovery.
4. Combating cybercrime requires a partnership between governments and the private sector. In the Philippines, the Cybercrime investigation Coordinating Center partnered with a consumer advocacy group to help combat consumer fraud.
5. Public-private partnerships are crucial in dealing with cyber threats, as consumer advocacy groups can serve as a direct link to affected individuals, and tech companies can share valuable information on emerging cyber attacks.

Guest : Benjamin Ang – Head, Centre of Excellence for National Security, RSIS, NTU,

Host : Brian Fernandez 

For more on this conversation click here