There has been an alarming increase in Singaporeans and businesses in Singapore who had fallen prey to ransomware attacks over the past year. Reports have shown that a total of 68 cases were reported as of Q3 2021, which is more than double of those reported in the first half of last year.
Despite the growing awareness of the threats and consequences of cyber-attacks, most Singaporeans still do not think of themselves as likely targets, leaving them vulnerable and victimized.
Here is how the growth of ransomware has multiplied in the past year and why you should be alarmed by this massive trend!
- Cases reported in the first half of 2021 were double of those reported in the first half of the year before
- Most cases were from small and medium enterprises; manufacturing, retail and healthcare sectors
- “Big Game Hunting” – large businesses are now increasingly targeted for higher ransom payouts
- Less technically-adept cybercriminals can now leverage on “ransomware-as-a-service”
- Rise in high-profile ransomware incidents affecting essential service providers and key companies
- Increased targeting of employees working from home and supply chains
At CyberQuote, we believe training the users is key to having great cyber hygiene. Our Cyber-Safeguard Awareness Programme (C-SAP), which is accredited by the Institute of Banking and Finance (IBF), is designed for companies to increase cybersecurity awareness of their employees.
Individuals are eligible for IBF enhanced course fee subsidies of up to 90% (Terms & Conditions Apply)
For more details, please contact us today!