Ransomware continues to pose a major threat to local organizations; emphasizes the importance of cybersecurity in upcoming Budget 2023
Kuala Lumpur, 14 September 2022 – Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced it blocked 63 billion email threats, malicious files, and malicious URLs in the first half of 2022, a 54% year-on-year (YoY) increase. It also revealed that government, manufacturing, and healthcare are the top three sectors targeted with malware.
Goh Chee Hoh, Managing Director of Trend Micro Malaysia and Nascent Countries said: “New and emerging threat groups continue to evolve their business model, focusing their attacks with even greater precision. That is why it is essential that organizations get better at mapping, understanding, and protecting their expanding digital attack surface. A single, unified cybersecurity platform is the best place to start.”
In Malaysia specifically, Trend Micro shared that:
- A total of 239,214,683 cyber threats were blocked in the first half of 2022.
- It detected an alarming increase of 282% YoY ransomware attacks in 1H 2022.
- The number of detected malware surged by 227% from 1H 2021 to 21,566,246.
Trend Micro’s report further highlighted the key factors influencing the increase in cyberattacks:
- The rise of the hybrid working model – a combination of both work-from-home and on-site work.
- Rising popularity of service-based malware – ransomware-as-a-Service (RaaS) – an illegal pay-to-use service using malicious software to extort payment or exchange from its victims.
- The capitalization of the Russia-Ukraine hostilities by launching cyberattacks on both sides and people who are concerned about the conflict.
- Cloud is another popular target for threat actors by taking advantage of misconfigurations and its infrastructure.
Cybersecurity remains a critical component in Malaysia
According to Goh, “Our timely mid-year roundup report evidently shows the significant increase in cyberattacks, indicating the dire need for public and private sectors to prioritize cybersecurity in any digitalization journey. Proactive and effective cybersecurity investments and measures are pivotal to keep the ever-evolving cyber threats at bay in ensuring continuous business operations to drive and strengthen economic growth.”
“To deal with new or heightened risks of more sophisticated cybercriminals, we welcome the government’s initiative to enhance existing legal provisions to protect the country against cyber threats. We also welcome the government’s unwavering commitment towards strengthening cyber resilience across the nation’s industry ecosystems,” said Goh.
In addition, Goh expressed his hopes that the upcoming Budget 2023 announcement would explore initiatives to solidify the nation’s cybersecurity posture by emphasizing the importance and value of investing in cybersecurity to mitigate cyberattacks regardless of the economic situation ahead of the Budget 2023 tabling on October 7.
Budget 2023 will focus primarily on continuing to protect the people’s well-being, ensure business continuity, and rebuild economic resilience to enable more sustainable economic growth in the medium term.
To read a full copy of the Trend Micro 2022 Midyear Roundup Report, please visit: https://www.trendmicro.com/vinfo/us/security/research-and-analysis/threat-reports/roundup/defending-the-expanding-attack-surface-trend-micro-2022-midyear-cybersecurity-report