Tightening Cyber Security Together
V/O: Breaches happen. Cyber attacks are on the rise. An attack on your organization can affect your operations, financial statements and reputation. To address and mitigate these large and complex breaches, Singapore is expecting to increase its information security expenditure.
Ryan Lee: The threats today are really real. Company’s data can get stolen that subject to ransomware. Personal data can get stolen, personal photos and videos. Cybercrime industry is actually quite huge. In 2018 itself, it is estimated that cyber criminals made off about 1.5 billion US dollars from their illicit activities and these number will continue to grow. So, it’s a real serious threat to the world as well as to Singapore. I think the cybersecurity sector is really a rarity in today’s market, where the demand for services and solution outstrips supply. I think the largest gaps probably exist in the sharp end unique skill set such as trend intelligence, malware analysis and digital forensics because these are really technical subjects that require people with deep experience and passion to learn the craft of the trade.
Jeff Tan: So, to add on, the gaps are many, but so are the opportunities. Threat intelligence, new areas of forensics, deep-diving into some of the newer technologies, are some of the emerging areas that come on very important. I think its a global problem with plenty of opportunities.
Natalie Lange: One of the big reason why we wanted to be in Singapore, is because it’s a very easy place, to do business. Because, the Singapore landscape is very easy to make sure that you’re actually a legitimate business, you can set up a bank account, you don’t have to go through like, various levels of checking just to make sure that you’re a real business. But I think, in terms of the international reach that Singapore has, and the high turnover rate of businesses, and people coming in the country, Singapore was our top choice.
Anton Opperman: It’s terrifying, the abilities for hackers. If you look at cyber security today, versus 4 or 5, or 6 years ago, cyber security is a commodity now. You can go on the dark web today and you can go buy, for $45 or $100, you can go and buy, packets of hacking materials. Like if you want to hack somebody, you want to hack a hospital, you want to hack a school, you want to hack whatever. So, if you ask me, the threat is getting bigger and bigger every single day.
Natalie Lange: Singapore was on the radar for us because it just makes sense. If we want to have a foothold in Asia, where else are you going to go?
Ryan Lee: Strong support from the Singapore government to provide training to the cyber security workforce. Singapore government has made it really attractive for cyber security companies to set up its global original headquarters in Singapore. Easy to find partners here to collaborate and pursue opportunities in this region.
V/O: Heighten your cyber security potential with us. Connect with Austrade now.