Information and Communications Technology Business Group Update- Q4 2015

By Andrew Pickup (Microsoft Asia), Chairperson of the ICT Business Group

Technology is radically changing the way people live and go about their daily lives. However, one thing remains for certain: people will not use technology they do not trust. This was the overarching message we shared during a business tour to Microsoft’s Asia Pacific Cybercrime Satellite Centre in Singapore.
 
Each year, there are close to 400 million victims of cybercrime globally, costing public and private organisations billions of dollars in losses. Cyber threats are real and a growing concern for both individuals and organisations, especially with the spread of malicious software. In fact, based on our Digital Crimes Unit’s research, one of the top security threats in ASEAN at the moment is the Bladabindi/ Jenxcus (B106) malware family. This allows hackers to steal sensitive information, as well as the ability to download other malware that gives them unauthorised access to your PC. Some variants can also control a PC’s camera to record and perform keylogging functions.

 

In order to build a trusted computing environment, organisations need to ensure policies are in place to address weak links in their IT supply chain.

 

One area to focus on is procurement hygiene, which is an often overlooked factor. The components of cyber security spend — IT infrastructure and procurement, IT administration and support, website and online services maintenance — are often vulnerable to cyber security bypass and loopholes. These include using unlicensed or lapsed-license software, purchasing from questionable vendors, and using outdated software — quite often without knowing.

 

As the vulnerabilities of the digital world are increasingly thrust under the spotlight amid a growing number of reports on cyber security incidents, there will likely be a flight to quality and trust among technology users. By making security and privacy a priority, organisations can build greater trust in technology and all it promises.

 

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