Fact: Cloud security is a shared responsibility. While providers secure the infrastructure, customers must protect their own data, user access and applications.
Myth: Using cloud services means cyber security is entirely the provider's responsibility, not mine.
Myth: Small and medium-sized enterprises (SMEs) aren’t worth targeting since we don’t have valuable data like multinational corporations.
Fact: SMEs made up 84 per cent of Singapore’s cyber security victims in 2023. SMEs, too, have valuable customer and financial data that are attractive to cyber criminals.
Myth: Ransomware is only about data encryption.
Fact: Modern ransomware does more than encrypt data. It can paralyse entire operations by disabling servers and critical systems, leading to severe financial losses through business disruption, recovery costs and reputational damage.
Myth: Ransomware attacks are rare.
Fact: Globally, ransomware cases hit a record high in 2023. 49 per cent more companies became victims of ransomware attacks in 2023 as compared to the previous year. In Singapore, reported ransomware cases increased by about 20 per cent in 2024.
