Home Business Cyber Threats in Malaysia’s Services Sector Are Imminent, CyberRes Research Predicts

Cyber Threats in Malaysia’s Services Sector Are Imminent, CyberRes Research Predicts

Malaysia was impacted by some of the biggest global incidents in 2021 – including the SITA supply chain breach that impacted several airlines worldwide.

by Gopalakrishnan Nair
83 views
CyberRes Annual CyberThreat Report

CyberRes, a Micro Focus line of business has announced the release of its first Annual Report on the current state of cyber threats and an overview of cyber events in 2021 globally.

This strategic report is the first in a series to provide a perspective on geopolitical, regional, and industry threat conditions, as well as what to expect throughout the year.

Asia Pacific is highlighted as one of the most impacted regions in 2021, having experienced 23.5% of the total cyber issues reported. The region trails behind North America, which topped the list at 33.5%.

The report provides valuable foresight into potential threats in the region this year, based on key findings from the previous year, including:

2022 Trends2021 Findings
Trend 1: The public sector will be the most affected sector in the futureIn 2021, the public sector (27.4%) was impacted the most. Escalating geopolitical tensions have placed the public sector in the crosshairs.
Trend 2: Espionage is likely to be the biggest motivation for threat groupsApproximately one-third of the total cyberattacks conducted in 2021 were meant for cyber espionage, followed by financial gain.
Trend 3: Data exfiltration will be the most frequently used method of cyberattacksIn more than 24% of the cyberattacks in 2021, threat actors chose to exfiltrate sensitive data from their victims’ networks.

However, the cyber landscape, industry impact, and outlook for 2022, vary across markets.

Malaysia, for instance, was impacted by some of the biggest global incidents in 2021 – including SITA supply chain breach that impacted several airlines worldwide. The country has also been a target of espionage campaigns by major threat actor groups, including APT41.

For this year, the report foresees some of the most vulnerable industries in Malaysia as:

IndustryLikelihoodImpact
Services*Current operations/imminentHigh risk
ConstructionLikely to occur in the next three monthsHigh risk
TransportationLikely to occur in the next three monthsHigh risk
FinanceProbable in the next 12 monthsHigh risk
*Note: The Services sector includes various sub-industries such as education, telecommunication and technology, consulting, media and entertainment, hospitality, professional services, legal services, and more

That said, the ASEAN region is on a positive trajectory. Currently, ASEAN countries are leading the global pack in cybersecurity by adopting the ASEAN Regional Action Plan (2021-2025), which seeks to strengthen regional cybersecurity in areas such as research collaboration, knowledge sharing, and training. Furthermore, the ASEAN-Singapore Cybersecurity Centre of Excellence plans to improve the cybersecurity strategy development, legislation, and research capabilities of all member states, placing countries like Malaysia on a stronger cyber path.

“Countries in Southeast Asia are still recovering from the brunt of last year’s cyberattacks, which created a lasting effect on all organisations and individuals. While this trend is unfortunately continuing into 2022, the region has a massive opportunity to reverse or contain the numbers moving forward, equipped with a clear understanding of the current landscape, tactics, and threats that could be emerging,” says Jeffrey Neo, Managing Director, Southeast Asia & Korea, Micro Focus. 

Related Articles

Leave a Comment

We use cookies to improve user experience, and analyze website traffic. For these reasons, we may share your site usage data with our analytics partners. By clicking “Accept Cookies,” you consent to store on your device all the technologies described in our Cookie Policy. Accept Read More

ESPC on the go

FREE
VIEW