Asia Pacific response to cyber attacks take 262 days FireEye finds

Business | 12 Jun 2019 8:32 pm

Asia-Pacific organizations are more likely to be retargeted by cyberattackers, with 78 percent of clients targeted again within 19 months of the first breach, according to security technologies company FireEye.

A report by FireEye also indicated that APAC organizations have a slower response time to cyber attacks than their global counterparts, with the average duration between the breach and the internal identification being 262 days, significantly more than that of the Americas at 46 days and Europe, Middle East, and Africa at 61 days.

Grady Summers, chief technology officer at FireEye said Hong Kong business leaders should increase cybersecurity.

There is an increase in compromises through phishing attacks during mergers and acquisitions activity, with the most susceptible being professional services firms such as consulting and particularly law firms that don’t have the same investment in their defenses, said Summers.

He added that they even had a client that didn’t detect an intrusion until nine years later.

As the Hong Kong Monetary Authority is due to grant more virtual bank licenses and more businesses are shifting data to the cloud, Summers said 15 percent of cyber attacks last year were cloud-based and the trend is expected to grow, but has confidence in cloud vendors as they have “some of the best security teams”.

FireEye also cautioned multinational companies looking to move into new markets to be aware of the potential risks of attack by advanced threats (APTs) engaging in espionage, which are state-sponsored groups or groups closely aligned with state interests. The group APT32 in Vietnam specifically targeted Thai and Cambodian government officials through email spearphishing campaigns in order to gain intel on the Belt-and-Road Initiative.

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