Asian Companies Lacking in Defenses Against Cyber Attacks

By Yaqub Yunusa April 24, 2018 Digital Currency No Comments

Asian companies lag behind those in the US in the computerized security scope, even as overall alertness has been raised in the wake of cyber attacks like ransomware WannaCry a year prior, according to FM Global, a typical property back up company located in Rhode Island, New England.

Fewer than 20% of companies in Asia are defended against cyber attacks, while around 66% in the US have procured assistance, FM Global’s VP and executive of digital danger security items Grace Ries said.

Cyber security complaints rose to a record high a year back amidst an 80% increase in malware attacks, according to the Hong Kong Computer Emergency Response Team (HKCERT), the city’s data security company. It moreover forewarned that malware attacks like WannaCry will continue surging this year.

The ransomware, which was detected in May, affected more than 400,000 machines in 150 countries, including the UK’s National Healthcare System and Spain’s telecoms giant Telefonica.

WannaCry affects documents on PCs running the Microsoft Windows environment, making them inaccessible for customers to get to and making demands for payment in Bitcoin. Ries said that “finding solutions [for cyber attacks] is still in a growth phase in Asia, but awareness is on the rise.”

Hong Kong Broadband Network, the city’s second biggest broadband company, said data for 380,000 customers was stolen through an illegal access to its database. Information relating to around 40,000 charge cards may have been compromised, as indicated by reports.

Throughout the globe, there were around 53,000 cyber security events and 2,216 asserted data breaks last year prior, as showed by the 2018 Data Breach Investigations Report by US telecoms company Verizon. Around 40% of the events were Denial of Service (DoS), which involves hackers using infected devices to inundate sites with data requests.

In 2003, FM Global included DoS to cover the non-physical damage caused to PC structures, as an element of the backup arrangement’s property assurance package, said Ries. Another example in computerized security is to join cloud scope, amidst advancement in the number of companies relying upon off-site storage systems.