TheStar: Protect your networks and devices from cyberattacks

News March 19, 2018

More cyberattacks are expected in 2018 and good cybersecurity practices are more relevant now than ever.

RANSOMWARE attacks will evolve and hit harder in the upcoming years, says Pikom Cybersecurity chair Alex Liew.

Speaking at the Star Empowerment about cyberattacks

Cyber Defence & Network Security forum in Petaling Jaya recently, Liew said that most ­security experts agree that this type of malware will be prevalent throughout 2018.

“The reign of ransomware is far from over. In 2017 alone, ­ransomware growth topped 2,500%, hitting hospitals, businesses and individual users. It will hit harder, covering a wide range of attack surfaces like varied mobile devices, operating systems, Internet-connected devices and more this year,” said Liew.

In 2016, there were 14,627 reported cases of online scams totalling a loss of RM1.6bil in Malaysia. “Those are just the reported cases. We knew of some companies and individuals in Malaysia that fell victim to the WannaCry ransomware last year, but they weren’t officially ­reported,” he revealed.

Cybersecurity consultant Foong Chong Fook echoed this sentiment, saying that even with security ­solutions, businesses often left themselves vulnerable due to poor security habits and misconceptions about how hackers worked.

Fong, who is also the CEO of cybersecurity firm LGMS, said this was driven by the “new economy” of ransomware, where attackers would even purchase ransomware from other parties.

Fong also expanded on this point during his live demonstration on how fake WiFi hotspots could be used to compromise a ­computer, with a case study of how social engineering using bogus e-mails could even compromise a bank.

He added other threats to expect in 2018 include social media ­spying, automated ­cyber attacks against SMEs, large enterprises and fintech systems, plus hacking using drones.

Full article from thestar


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