“A cyber-attack can result in a prolonged disruption of business activities. Threats are constantly present and evolving in sophistication. We cannot afford to be complacent. Financial institutions must therefore remain vigilant and have in place effective technology risk management practices and robust business continuity plans to ensure prompt and effective response and recovery.” So noted Tan Yeow Seng, MAS Chief Cyber Security Officer, on the proposed enhancements to technology risk and business continuity guidelines.

But you don’t need to be in financial services to be cognizant of the increased risks that businesses faced in 2021.

With the completion of The 2021 ISACA-Frost & Sullivan Survey: The Singapore Cybersecurity Landscape, we thought it made sense to get the perspective of the two architects of the annual study – Steven Sim, President, ISACA Singapore Chapter and Kenny Yeo, Associate Director - Global Security Advisory and Head of Asia Pacific Cyber Security Practice, Frost & Sullivan. 

1.                   Steven, please do us the honour of a quick recap of 2021 security issues as revealed in the report?

Kenny, How does the data for Singapore fare compared to the region?

2.                   Given all the experiences in 2021, is there a marked improvement in how organisations in Singapore are responding to cyber threats?

3.                   Where are areas of strengths and weaknesses in Singapore organizations’ cyber threat response set up? 

4.                   How have the high-profile cyberattacks globally and in Asia-Pacific impacted the CISO and information security teams among Singapore companies?

5.                   Do you think government involvement needs to be increased to improve the cybersecurity threat readiness of the city?

6.                   What can we expect from the threat landscape in 2022?

7.                   What should Singapore enterprises do to be ready for 2022?