News / Insights

Most Singapore firms experienced data breaches, worried over 5G deployments

According to a recent survey of more than 250 chief information and security officers in Singapore, across various verticals including Financial, Healthcare, Government, and Retail:

• 96% of Enterprises in Singapore have admitted to experiencing a data breach over the past year
• 42% said they experienced a breach once, while 34% reported at least five security breaches
• 93% of local businesses saw an increase in cyberattacks in the past 12 months
• By Sector or type of Enterprise experiencing Cyber Security and/or Data Breaches:
  • 33% of Manufacturing and Engineering companies reported an increase of up to 50% over the past year
  • 54% of Healthcare providers reported an increase of up to 50% over the past year
  • 56% of Financial Services institutions reported a 51% to 100% increase in the frequency of cyberattacks.
• 48% of Singapore companies admitted incurring financial damage from the breaches they incurred
• 83% acknowledged there was damage to their Brand reputation after reporting a breach
• 75% of Government organizations and 60% of Enterprises described that they suffered"some to severe" negative effects following a breach

ZDNet article