Chart of the Day: Around 1 in 2 Singaporean businesses have experienced cyber incidents
Data loss and business interruption were top cyber security concerns.
This chart from the State of Incident Response: Asia Pacific study published by Kroll showed that 46% of Singaporean businesses surveyed have experienced a cyber incident, lower than the regional average of 59%.
It is the second market with the lowest number of businesses citing cyber incidents, following Hong Kong at 43%.
Businesses are concerned the most about data loss at 55%, followed by business interruption at 52%. The cost incurred (37%), exfiltration or theft of intellectual property (36%), fines arising from regulatory sanctions (35%), and reputational damage (32%) were also cited as cyber security concerns.
In terms of actual impact, data loss and business interruption were the highest at 43%, followed by reputational damage at 41%, cost incurred at 28%, and exfiltration or theft of intellectual property, ransom payment, and fines were all at 22%.
Training (69%) was the top measure they implement to address cyber security threats, followed by buying hardware and software security tools (68%) and buying cyber insurance (66%).