Black Hat, the world’s leading provider of information security events, today announced initiatives to make the very latest information security research available to Singapore university and polytechnic institutions, as well as the region’s larger InfoSec community. The event will offer complimentary access to qualified higher education professors and students in support of objectives outlined in the Singapore government’s cybersecurity strategy. Read more
“You’re being conned. There’s no such thing. It doesn’t exist,” says Rik Ferguson, vice president for security research at Trend Micro. He’s talking about the much-discussed skills shortage in the cybersecurity sector. Read more
Singapore’s battle against cyber criminals is expected to intensify, with 72 percent of Chief Information Officers (CIOs) detecting more cyber attacks now than 12 months ago.
This is due to a lack of skilled IT security personnel, according to the ‘Cyber security – defending your future’ report, which is commissioned by specialist recruiter Robert Half.
According to the report, 85 percent of Singapore CIOs expect their companies will be attacked more often due to the IT security talent shortage. This is well above the 78 percent average of the eight countries surveyed. The only two countries with a higher percentage than Singapore are Brazil (93 percent) and Japan (87 percent).
Singapore has the highest percentage of CIOs (30 percent) predicting “significantly more” cyber attacks in the next five years. The global average is at 19 percent.
IT leaders said the top three cyber security risks facing Singapore organisations in the next five years are data abuse/data integrity (59 percent), spying/spyware/ransomware (54 percent), and cyber crime (53 percent).
“As demand for new cyber specialists entering the IT market outstrips supply, companies are being forced to reconsider their training and retention programmes,” said David Jones, Senior Managing Director, Robert Half Asia. “They are also recruiting from overseas, partnering with educational organisations and developing flexible hiring strategies that include both permanent and contract specialists.”
Soft skills are highly sought-after for an IT security role
In response to the new wave of cyber security attacks, 23 percent of Singapore CIOs said they will add new permanent IT security professionals to their team in the next 12 months. Twenty-nine percent said they are planning to hire IT professionals for newly added contract positions within their team.
CIOs identified Big Data and data analytics (46 percent), cloud security (46 percent), and application security (38 percent) as the top three technical skills in demand.
However, these competencies also turned out to be amongst the most challenging security roles to find. This thereby highlights the IT security skills gap.
“While technical skills are still must-have competencies for a specific position, soft skills have also become substantially more important,” Jones said. “The ability to analyse data and provide insights, as well as a strong business acumen and communication skills, have developed into highly sought-after skills for an IT security role.”
“The ability to clearly articulate cyber-security issues in a language that senior management and non-IT employees understand increases awareness, and enhances the reputation of the IT department as business partners who add value across the business,” Jones concluded.
As cars become more computerized, they’re also facing a greater risk of being hacked. That’s why Volkswagen is founding a new cyber security company devoted to protecting next-generation vehicles. Read more
By 2021, cyber crime is expected to cause roughly $6 trillion worth of annual damages, annually, according to a newly published report authored by Cybersecurity Ventures and backed by security consulting giant The Herjavec Group. Read more
Increasing impact of cybercrimes and technology-driven changes in the business landscape as well as societies underscore the need for cybersecurity approaches to be reviewed and changed Read more
KEPPEL Telecommunications & Transportation’s subsidiary Keppel Data Centres Holding has partnered managed security services provider Quann in a strategic collaboration which kicks off in August. Read more
Cybersecurity blind spots based in risk and vulnerabilities can be difficult to spot and address.
Technical blind spots certainly present major information security challenges to CISOs and their teams, as the complexities of monitoring encrypted traffic and updating SAP software and other legacy applications can be daunting tasks. But there are other cybersecurity blind spots that involve more amorphous and less technical concepts such as enterprise risks. Several cybersecurity experts and CISOs offered insight into some of the hidden risks and vulnerabilities they’ve discovered, as well as some of the more persistent and growing threats to enterprise security. Read more
Cyber criminals are hacking into smaller businesses as a way of getting into larger corporations.
Smaller companies are easier targets because they often lack the resources, expertise and technical capability to defend themselves against illegal online intrusions. Read more
For SingPass users who have not registered for two-factor authentication, the Infocomm Development Authority of Singapore (IDA) said on Monday (Jul 4) that they will more time to do so.
There are 3.3 million SingPass users currently, of which 2 million are regular users, or those who have logged in more than once a year. Of these, 1.6 million have set up their 2FA while 400,000 of the regular users have yet to do so, said IDA.
As such, users who have yet to set up 2FA will be given an additional 30 days to do so when they log in to SingPass from Jul 5. For example, if a user logs in to transact with the Government on Aug 15, she is given until Sep 14 to complete her 2FA set-up. During this period, she can continue to access e-services involving sensitive data with just her password.
“This will allow them to perform urgent e-transactions while they set up their 2FA,” the agency said. The majority of Government e-services will require 2FA for transactions from Tuesday, it added.
“This grace period is granted because we recognise that people do need to do urgent transactions, said IDA’s assistant chief executive Chan Cheow Hoe. “But this cannot last indefinitely, because security is important. And for regular users, the risk is actually significant. And the faster you register, the better it is.”
IDA said they will continue to monitor the take-up rate of the remaining regular users before eventually removing the grace period.