MORE CYBERSECURITY AWARENESS
Mr Kok Ping Soon, the chief executive of SBF, said: “Cybersecurity is a major concern for businesses due to the increasing frequency and sophistication of cyberattacks, which can result in financial losses, reputation damage and legal liabilities.”
The exercise findings indicate that more can be done to increase the security awareness of employees, particularly those working in SMEs, he added.
“We urge all businesses to prioritise security training, practise cyber hygiene and encourage a culture of vigilance among employees,” he said.
Senior Lieutenant Colonel Psalm Lew, director of community engagement at Nexus, said: “We are encouraged by the strong participation by businesses in this first run of the coordinated phishing exercise.
“The results underscore the importance of agencies, businesses, and communities coming together to work on a whole-of-society response to security threats through Total Defence.”
Nexus, MINDEF and SBF said that they will continue to work with local businesses and increase their readiness for disruptions.
These efforts will include offering ongoing training and conducting follow-up exercises to reinforce best practices.
“SBF is working with public and private sector partners to introduce a comprehensive suite of cybersecurity initiatives to help businesses put in place good cybersecurity practices and measures that are commensurate with their cybersecurity risk profile,” it said.
Aligned with the requirements of the Cyber Essentials Framework, these include programmes to help businesses understand what they need to do to mitigate the impact of a breach and actionable suggestions on how to address identified security vulnerabilities.
