A new report from Rubrik, a data security firm, has highlighted a concerning rise in cyberattacks targeting Singapore’s IT and security sectors. The Zero Labs report reveals that 91% of Singaporean IT and security executives experienced cyberattacks in 2024, with a significant 95% of organisations succumbing to ransom demands. This trend underscores the vulnerabilities within multi-cloud and hybrid environments, which are increasingly being exploited by cybercriminals.
The report, which surveyed over 1,600 IT and security leaders globally, including those in Singapore, found that nearly one-fifth of organisations faced more than 25 cyberattacks in the past year. Key challenges identified include securing data across diverse ecosystems (42%), data compliance and privacy issues (36%), and a lack of centralised management (34%).
Sheena Chin, Managing Director for ASEAN at Rubrik, emphasised the complexity of securing data in the cloud era. She noted, “The data sprawl in the cloud era translates to complexity in securing data.” The report also highlights that 91% of Singaporean organisations utilise between two and five cloud and SaaS platforms, making them susceptible to identity and access management weaknesses.
The findings suggest that as businesses continue to adopt multi-cloud strategies, the need for robust data protection and backup policies becomes crucial. With cyber threats evolving, organisations must prioritise system awareness and recovery plans to safeguard sensitive data. The report calls for companies to adopt a proactive approach, thinking like threat actors to anticipate and mitigate risks effectively.
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