Photo: ITU
Singapore enjoys one of the lowest crime rates in the world. While most types of crimes are decreasing, cyber crimes in Singapore nearly doubled in proportion between 2014 and last year, rising from 7.9% to 13.7% of all crimes.
While government agencies seem equipped to deal with cyber concerns, individuals and businesses lack similar capacity. Breaches are becoming expensive for the private sector; the average cost to resolve them has grown nearly 30% over the past three years to US$4 million.
To create awareness among individuals, Singapore government launched an anti-scam public education initiative in 2015 in print and broadcast media, outdoor advertorials, and social media platforms. Cyber extortion cases decreased by 66% from 2015 following the campaign.
To help SMEs, the Info-communications Media Development Authority (IMDA) is setting up a Digital Tech Hub by the end of the year to provide SMEs in-person advice on cybersecurity.
Photo: ITU
While authorities have taken measures to combat cybercrime, how can you protect yourself? To begin with, here are some key basic steps. In addition:
Report a breach to SingCERT at singcert@csa.gov.sg or call the SingCERT hotline on +65 6323 5052. Report scams at the website www.scamalert.sg or call the Anti-Scam Helpline at 1-800-722-6688, or through the mobile app i-Witness.
Set up an account with a password manager
The benefits of using a password manager (such as LastPass) outweigh potential risks. As Mr. Eric Rosenbach, the former Chief of Staff to Secretary of Defense Ash Carter 2015-2017 recommends, “Human beings are more fallible than technology. This is a secure tool”.
Use a “Secure Device”, when possible
As in the case of SingPass and DBS/POSB, get the OneKey device and the iB Secure Device respectively. These devices ensure your accounts are not compromised.
Set-up multifactor authentication
In the absence of a secure device, multifactor authentication (2FA) can provide an added layer of security.
Review bank and credit card statements regularly
Check out your monthly statements and, if possible, set up an email or SMS alert to detect anomalies.
Invest in Artificial Intelligence and cyber insurance
As an individual or a business, if possible, invest in cognitive technologies that can be trained in the language of cybersecurity, reducing the chase after false positives and speeding up the process of detection. In addition, get cyber insurance.
Low crime is NOT no crime. As the government strengthens the cybersecurity ecosystem through policies and initiatives, individuals and businesses can’t be complacent. We need to do our part in safeguarding ourselves, especially as we drive towards becoming a Smart Nation.
