“Cybersecurity” wasn’t even a word until 1989. Now it’s a subject for graduate degrees and a field for careers. It’s also a growing concern around the world—and according to a new study, especially in Asia. HPR’s Bill Dorman has more in today’s Asia Minute.
The Asia Pacific has many positive attributes…but secure computer networks are not high on the list. That’s the word from Mandiant—a U.S. security company which recently completed a year long investigation into cyber security in Asia. The firm has published a global security report for the past six years---but this is the first one that’s focused on Asia.
One of the big problems in the region is the lag time between the launch of a security breach and when it’s discovered. Globally, the average company takes about five months to uncover a security breach. In Asia, the average is more than triple that time---about 17 months….and most security issues do not become public. In one recent case that did get wide attention earlier this year, hackers were able to break into the Central Bank of Bangladesh—transferring some $81 million dollars to the Philippines. The Mandiant report also says that as a geographic area, Asia is 80% more susceptible to computer attacks than the rest of the world.
So what is it that has made Asia such a tempting target? The report says most organizations “lack appropriate technology to perform effective computer and network forensics.” Of course that also just happens to be Mandiant’s line of business.