Cyber Attack In Malaysia

Meanwhile cisco cyber security sales director for asean kerry singleton said the 5g roll out and rising internet of things iot adoption may increase cyber attacks. The findings of this study provide businesses with a greater understanding of the economic impact of cyber threats. Malaysia s central bank said on thursday it had foiled a cyber attack in which fraudulent messages to transfer funds were sent on the swift transactions platform the latest in a series of electronic heists at financial institutions around the world.

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Microsoft which released its security intelligence report sir recently has specifically mentioned that malaysia has become extremely vulnerable to cyber attacks.

Cyber attack in malaysia. Cyber attacks rate in malaysia is on rising as soon as it is near to be a developed country and its rate for cyber attacks has also increased. Ransomeware wannacry and notpetya sneaked into more than 200 thousand computers in over 150 countries worldwide. Read more at the business times. Malaysia faces the possibility of incurring us 12 2 billion us 1 rm4 04 in economic losses which is 4 of its gross domestic product gdp of us 296 billion due to cyber security.

As you are well aware 2017 witnessed several cyber attacks which shaken the world. Indeed we do not want consumers to become victims of cyber criminals and simultaneously reduce cybercriminals among internet users in malaysia. In malaysia cyber security firm le global services said it identified 12 cases so far including a large government linked corporation a government linked investment firm and an insurance company. Malaysia is going through the prospect of experiencing us 12 2 billion us 1 rm4 04 in financial losses which is nearly 4 of its gdp of us 296 billion all because of cybersecurity issues.

Hence the need for data sharing and continuous collective efforts by countries to increase awareness on cyberthreats. The cyber attack last month saw the non medical records of the 1 5 million individuals including their names and other personal particulars illegally accessed and copied. Holistic approach which covers people process and technology will continue to be a priority as cyber criminals consistently seek opportunities for cyber attack. In addition global security and malaysia were also affected by multiple correlating cyber attacks and threats.

Haji amirudin bin abdul wahab chief executive officer of cybersecurity malaysia. The report compiled by the data taken from between jan to dec 18 says that it came to the above said conclusion after analyzing 6 5 trillion cyber threat signals from cloud vendor s several data points. Cyber attacks have become a common occurrence not just in malaysia but around the globe said dato dr.