Singapore: Number 1 Country To Be Targeted by Ransomware Culprits

Did you know that Singapore is the most-targeted country by ransomware culprits from around the world? A recent study found that Singapore is a victim of many ransomware attacks and the main reason behind this catastrophe is because Singapore-based companies are more focused on cyberattack recovery rather than cyber attack prevention.?

It was also found that the recent ransomware culprits use a tactic that is labelled as “double extortion”. This means they not only encrypt the stolen data but also blackmail the companies by saying they will either sell or leak sensitive information and ask for ransom in return. It is also found that 4 of 5 companies in Singapore have been victimised by online bullies and thieves within the past 24 months. It was also found that the most commonly used ransomware are Conti and LockBit 2.0.?

This is why most businesses should not take preventive measures but preemptive efforts to overcome the cyber-security threats and risks by entrusting data privacy and security protocol providers. Ensuring the safety and resilience of sensitive data is therefore regarded as a critical responsibility for all Singapore companies of the new age.