The Malaysian Reserve: Adopt threat hunting to prevent cyber menace

News April 12, 2018

On threat hunting, traditional monitoring for malware and responding to cyber attacks are no longer sufficient to combat the threat of cyber criminals who are advancing faster than available know-how.

Cyber security experts said local companies need to shift from just prevention to threat hunting, proactively scanning the networks for possible security lacks and and isolate any possible external threats.

SANS Institute, the largest source for information security training and security certification in the world, defines threat hunting as a focused and iterative approach to searching out, identifying and understanding adversaries internal to the defender’s networks.

Cyber security specialist LGMS Services Sdn Bhd CEO Fong Choong Fook (picture) said the lack of cyber threat hunting shows us how the cyber security ecosystem in Malaysia still lags behind other advanced countries.

He said for example, most financial institutions subscribe to threat intelligence that notifies them of any potential threats that may be affecting the financial industry worldwide.

“Threat hunting is an entirely different proactive approach. Most banks in Malaysia today depend on threat intelligence,” Fong said to The Malaysian Reserve (TMR).

Last month, Bank Negara Malaysia announced it thwarted an attempt of unauthorised fund transfers using falsified Society for Worldwide Interbank Financial Telecommunication (SWIFT) messages. The central said the cyber heists were stopped following a prompt action in strong collaboration with SWIFT, other central banks and financial institutions. The regulator of the country’s financial system said no financial loss occured due to the incident.

The Philippines’ financial regulator also increased its supervision following the event in Malaysia, according to the news reports.

Fong drew the recent cyber heist incident to the US$81 million (RM313.5 million) Bangladesh Bank heist case in 2016.

Full article from themalaysianreserve

You may also find other interesting LGMS News at the following links:

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The Sun Daily: 240 cybersecurity specialists to be trained this year
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