SINGAPORE: In his speech launching Singapore’s national cybersecurity strategyearlier this week, Prime Minister Lee Hsien Loong warned of cyberattacks and threats “becoming more frequent and sophisticated, with more severe consequences”.
He pointed to how a cyberattack on the power grid in Ukraine last December left many Ukrainians without electricity for hours, and how hackers used malware to withdraw more than US$2 million (S$2.77 million) from ATMs in Taiwan in July this year. Closer to home, he said that there have been attacks on government networks and on the financial sector.
According to a 2014 report from Center for Strategic and International Studies, cybercrime costs Singapore an estimated S$1.25 billion annually.
Yet there is a decidedly acute shortage of IT security specialists that can be engaged to help fend off such online threats. For the full article click here
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