A recent report by SecurityScorecard has unveiled that every one of Singapore’s top 100 companies by market capitalisation has been affected by third-party cyber breaches over the past year. The report, titled “The State of Cyber Resilience in Singapore,” highlights significant vulnerabilities in the digital supply chain, despite strong internal security ratings.
The study examined key sectors such as Finance, Technology, Healthcare, Energy, and Agriculture, comparing Singapore’s cybersecurity posture with international peers like the UK, Germany, and Australia. Notably, whilst 91% of companies received an A grade for cybersecurity hygiene, all suffered breaches through third-party and fourth-party networks, indicating a critical gap in external risk management.
Ryan Sherstobitoff, Chief Intelligence Officer of SecurityScorecard, stated, “Every major company in Singapore is being impacted by risks they don’t directly control. As threat actors grow more sophisticated and supply chains more complex, cybersecurity resilience requires constant vigilance across all digital relationships.”
The report also found that the Technology sector recorded the highest direct breach rate at 40%, despite achieving high security ratings. Meanwhile, the Agriculture, Energy, and Healthcare sectors excelled with perfect A ratings and no direct breaches, yet still faced 100% third-party exposure.
SecurityScorecard urges organisations to enhance their monitoring of third- and fourth-party ecosystems and align vendor management with cybersecurity standards. As Singapore continues to digitise, the report underscores the necessity of treating supply chain resilience as a national priority.
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