Friday, May 18, 2018

Singapore firms incurred S$23.8b economic losses from cyberattacks last year: Microsoft study

The economic loss from cyberattacks for Asia Pacific as a whole was US$1.75 trillion (S$2.3 trillion) in 2017, according to new study.
Read more at https://www.channelnewsasia.com/news/technology/cyberattack-billions-singapore-firms-economic-losses-microsoft-10247312
 (Updated: )

Ricky Lim · 

“The rest of the organisations either think about cybersecurity only after they start on the project or do not consider it at all,” the study said.
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If the report is true, $23.8b economic losses from cyberattacks is very high.

All projects should include cybersecurity protection at the planning, budget, design, implementation and maintenance --- not an after-thought.

All design should have include cybersecurity at all the OSI layers - be it at physical layer, mac-layer, network layer, transport layer, presentation layer, apps layer and at the user usage layer - so that there are no weakest link - for any security is as good as the weakest link.
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Ricky Lim · 
If after a project run into operation - then try to put in security --- it will be alot of patch work, cause tremendous disruption to the IT services, and it cannot be done a thorough job.

IT Security must be embeded into the overall initial design - not like using plasters to try to plaster security holes - it doesn't work this way.
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