Cybersecurity confidence may be overstated in Singapore and Malaysia

A recent ISACA survey shows that the two Southeast Asian nations’ businesses are understating the threat level or overstating their defences. Saving face may explain why, but the cybersecurity gaps are real.

In Singapore, Malaysia, and India, a newly released ISACA survey reveals that businesses are very confident—moreso than businesses in other regions of the world—that they will escape cyberattacks. That confidence may not be well-founded, esepcially in Singapore and Malaysia.

ISACA, which provides security training and advisory services, surveyed 3,659 people globally in late 2020, of which 154 respondents came from Malaysia and Singapore, 65% of which represent organisations with more than 1,500 employees. There were 210 respondents in India, of which 80% represent organisations with more than 1,500 employees.

Confidence in defences largely tracks with cyberattack expectations—except in Malyasia and Singapore

Of the Malaysian and Singaporean respondents, just 33% expect that their organisation will experience a cyberattack in the next year. Likewise, few Indian businesses (29%) expect to suffer a cyberattack in the next year. By comparison, 46% respondents in Africa and 58% in the UK expect that their organisations will experience a cyberattack in the next year. (There were 119 Africa respondents, 55% of which were in organisations with more than 1,500 people. There were 112 UK respondents, 63% of which had 1,500 or more employees.)

Of the respondents in Singapore and Malaysia, 67% said they are confident in the ability of their cybersecurity teams to detect and respond to cyberthreats. Of Indian respondents, 69% were confident. That compares to confidence levels of 75% in Africa and 81% in the UK.

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