Up to 10 per cent of Singapore’s information technology budget will be spent on cyber security and the Government is urging private companies to do likewise.
Singapore intends to follow Israel and South Korea’s lead, said Communications and Information Minister Yaacob Ibrahim yesterday.
“Israel stipulates that 8 per cent of its total government IT budget must be allocated to cyber security, while South Korea prescribed 10 per cent. This underscores the utmost importance accorded to cyber security,” said Dr Yaacob, who is also the minister in charge of cyber security.
He announced this at the opening of the three-day 24th Government Ware infocomm security conference, but gave no time frame for the plans.
The conference is organised by the Cyber Security Agency of Singapore (CSA), a high-level central agency which coordinates public and private-sector efforts to protect national systems, such as those in the energy and banking sectors, from cyber threats.
Dr Yaacob said the private sector should follow suit, highlighting the need for a substantial cyber security budget as one of the nation’s three thrusts to shore up its defences.
The second thrust involves developing capabilities in both the public and private sectors.
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