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Are Malaysian companies vulnerable to cyberattacks?

Are Malaysian companies vulnerable to cyberattacks?
BAE Systems today introduced its new online cyber risk assessment tool
Kuala Lumpur, 16 November 2016: BAE Systems today introduced its new online cyber risk assessment tool, allowing Malaysian organisations to assess their cybersecurity preparedness and understand areas where they may be vulnerable to attack.
 
The tool, which measures an organisation’s cyber security preparedness across 10 key elements of ICT security, including incident response and information management, was developed in response to global research indicating the potential weaknesses in businesses’ cyber security measures, including in Malaysia.
 
Gundeep Singh Sandhu, Vice President Cyber Defence Asia Pacific & Japan at BAE Systems Applied Intelligence, said:
 
“In our research we found that 95% of respondents believe their organisation has the right security controls in place.
 
“Yet more than half (51%) of those surveyed said they had experienced a cyber attack in the past year, with the average cost being at least RM1,712,360.
 
“Almost every day we learn about new, sophisticated cyber attacks that have wreaked havoc on targeted organisations. For organisations to be protected against the growing cyber threat, it takes more than just building a firewall, but awareness at top management levels.
 
“As such, we encourage all organisations to take this simple test to assess the strengths and weaknesses in their cyber security and understand where they might be most vulnerable to attack. 
 
“At the same time, businesses must ensure they have the right people, processes and tools in place so when a major incident occurs, they have the ability to understand, contain and remediate. If action isn’t taken immediately, the price of cyber ignorance – for the company and the wider economy – can be severe,” Gundeep said.
 
See if your business is cyber-secure by accessing the Cyber Risk tool here: www.baesystems.com/takethetest
 
ENDS
 
For further details, please contact:
 
Edelman Public Relations Worldwide
Tel: +60-3 2287 8689
 
Priyatasha Premananda
 
Yoong Loong Hin
 
About BAE Systems
 
At BAE Systems, we provide some of the world’s most advanced, technology-led defence, aerospace and security solutions and employ a skilled workforce of some 83,400 people in over 40 countries. Working with customers and local partners, we develop, engineer, manufacture and support products and systems to deliver military capability, protect national security and people and keep critical information and infrastructure secure.
 
At BAE Systems Applied Intelligence, we help nations, governments and businesses around the world defend themselves against cybercrime, reduce their risk in the connected world, comply with regulation, and transform their operations.
 
We do this using our unique set of solutions, systems, experience and processes - often collecting and analysing huge volumes of data. These, combined with our Cyber Special forces - some of the most skilled people in the world, enable us to defend against cyber-attacks, fraud and financial crime, enable intelligence-led policing and solve complex data problems.
 
We employ over 4,200 people across 18 countries in the Americas, APAC, UK and EMEA. For further information about BAE Systems Applied Intelligence, please visit www.baesystems.com/businessdefence.