As we head into a new decade, there’s no doubt that there will be newer cyber threats, newer innovations against individuals and organizations. Data breaches, malicious codes, personal data, privacy issues, and of course, cryptocurrency hackings – all these incidents somewhat give more of a bigger awareness to APAC countries as they still lack cybersecurity strategies compared to the US and Europe. Below are our picks for the top 3 security issues that APAC will need to deeply consider and prepare for in 2020.
1. Cloud Security? Threats?
According to CDO Trends, APAC is becoming the home to 40% of the world’s data centers and is expected to overtake the U.S. by next year. As cloud services provide convenience and opportunities for relocation, more and more companies are relying on improved services. However, this allows users to become an attractive target for cybercriminals. Cloud-based threats will continue to grow inevitably and insufficient protection for the data will result in bigger data breaches in 2020.
2. APAC Ports and Cyberattacks
In the worst-case scenario, one single cyberattack has the potential to cost major APAC ports upwards of USD 110 billion in damages, according to ZDNet. The report was released by the University of Cambridge Centre for Risk Studies to alert that 92% of economic costs from such cyberattacks remained uninsured, creating a gap of USD 101 billion. This mainly warns ports across APAC countries, including Singapore, China, South Korea, Japan, and Malaysia. Thanks to the global connectivity developments, things have become easier for us to manage and transport, however, major countries across APAC must realize the importance of cybersecurity in the maritime, land transport, and aviation industries today.
3. IoT and DDoS Attacks
According to Security Boulevard and Netsparker, drones are opening up a new pathway for intelligence gathering. Even though concerns around security was never a minor issue, however, compromised IoT devices are providing access to communications, data, or even allowing drones to act as DDoS attack drones. Employing AI systems could be an option for companies to catch threats in the nascent stages, however, it is critical to design security on the devices first, before any crises occur.
Everyone learns from mistakes. Although numerous incidents occurred in the APAC region due to lag in data breach detection tools and methods, APAC countries have begun to realize the importance of data protection and cybersecurity. The growing awareness of the importance is changing and developing not only the regulations around cybersecurity but also SMEs’ way of improving and transforming cybersecurity strategies. Once again, we must remember that prevention is as important as detection!