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Asia’s governments, businesses and internet users must prepare for cybercrime
Jeff Hurmuses says the Asia-Pacific is not yet the prime target for cybercriminals, but rising use of technology means the region needs to start educating the public and preparing responses for the inevitable wave
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Several Asia-Pacific countries, especially in emerging markets, are severely lacking in cybersecurity. According to research by Marsh & McLennan Companies, the region is ideal for cybercriminals due to high digital connectivity, low cybersecurity awareness and weak regulations.
The most dangerous, pervasive forms of malware and the highest frequency of attacks are not happening yet in the Asia-Pacific. Perpetrators target countries with the strongest economies, like in North America and Europe, to get the biggest return on investment.
But the Philippines, Malaysia and Indonesia already see wide use of mobile banking and social media via smartphones, making them targets for cybercriminals.
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It’s likely the region will see an increase in malware detections. Lack of transparency results in weak cyber regulations, as well as a marked lack of security investment among businesses – perhaps partially due to the internet security market being heavily targeted towards the US and European markets.
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Lack of regulation results in third-party app stores selling malicious apps, and pirated software left unpatched due to lack of official support. It also leaves PCs ripe for takeover, with 50 per cent of botnet detections by Malwarebytes centred in Asia. Outdated prevention security, use of pirated software, lack of remediation or response and poor cyber protection leave systems vulnerable.
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