The rapid digitalisation of almost all services during and following the global Covid-19 pandemic, coupled with the influx of new digital users, have led to a rise in cybersecurity threats across the globe. The work-from-home (WFH) and hybrid working arrangements resulted in more employees using personal devices for work purposes, putting both personal and work data at risk.
While Anonymous hacks and Wikileaks may grab the headlines, at the micro level, everyday folks are increasingly falling prey to sophisticated scams that steal their identities or empty their bank accounts. New fintech solutions have exacerbated this issue, with a Deloitte study finding cyberattacks targeting financial apps rising
38% year over year. According to Mordor Intelligence, the global defence cybersecurity market is expected to reach
US$28.5 billion by 2026, registering a compounded annual growth rate (CAGR) of approximately 10.5% between 2021-2026, with Asia Pacific as the fastest-growing region.
Even before the pandemic, policymakers and Big Tech corporations had positioned Malaysia as a global 24/7 hub for cybersecurity providers, thanks to its first cybercity, Cyberjaya, being home to a thriving data centre industry in the late 1990s. As early as 2006, Finnish cybersecurity specialist
F-Secure picked Greater KL to be the company’s Asia hub, with Malaysian cybersecurity talents working hand-in-hand with security response teams in Helsinki, Finland. Today, F-Secure’s
Tactical Defence Unit in Greater KL is supported by a strong pipeline of local cybersecurity talents.
Since then, Malaysian policies and regulations have expanded the capital city’s cybersecurity aspirations and attracted even more investments in the space. Most notably, the
Personal Data Protection Act 2010 set an important benchmark for regulating how personal data is processed in commercial transactions and securing privacy concerns within the digital space.
.png)
.jpg)
.jpg)
