3 Reasons Why Cyber Resiliency and Digital Trust is Key in Today’s Digital Economy

Mar 31, 2021
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The accelerated speed of business digital transformation comes with its accompanying cybersecurity risk and vulnerabilities. It is the responsibility of organisations to protect and safeguard their business, customer data and brand reputation from cyberthreats and cybercriminals.

This infographics takes a closer look at the growing cybersecurity risk that businesses are exposed to while accelerating their digital transformation efforts. Here we share how a managed security services provider like TM ONE plays the role of a trusted partner to unlock the potential of the digital business.

3 Reasons Why Cyber Resiliency and Digital Trust is Key in Today’s Digital Economy 2
3 Reasons Why Cyber Resiliency and Digital Trust is Key in Today’s Digital Economy

A priority now on cyber resilience with proactive cyber defence is more than ever. Building digital trust, as defined by IDC, is enabling decisions to be made between two or more entities that reflect their level of confidence in each other. This digital trust, between an organization and its customers, underpins much of today’s economic activity in an increasingly digital-first world.

TM ONE CYDEC Managed Services can simplify how your company adopts and strengthens cybersecurity, and continues to protect itself.

This infographics was published in The Edge weekly on 29 March 2021.

Demystifying Technology: Securing Your Business in the Digital Era

Mar 25, 2021
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Basic reactive measures are no longer adequate to manage the complexity of cyber threats today. It is time to adopt a more adaptive approach to cybersecurity that would enable Active Cyber Defence (ACD) and cyber resiliency. This means having real-time cyber defence services implemented to drive business growth securely.

Cybersecurity Quote-by Prime Minister

The COVID-19 crisis and the unprecedented acceleration towards digitalisation have caused companies worldwide to race onto digital platforms. As companies stepped onto digital means, they found loopholes and vulnerabilities in their digital systems. These issues are evident with the high number of cyber incidents reported, with more than 7,000 cases in Malaysia as of September 20201. Cyber fraud topped the list in Malaysia as the most common type of cyber-attack.

Figure 1: Average total cost of data breach by country or region (IBM Data Breach Report, 2020)
Figure 2: Reported Incidents in Malaysia, 2020 (Malaysia Computer Emergency Response Team, MyCERT Statistics)

Current challenges on cybersecurity in Asia Pacific

In its latest 2020 report, INTERPOL provided a sobering reality on the cyberthreat landscape confronting the Association of Southeast Asian Nations (ASEAN) countries. The first half of 2019 saw a rise in botnet infections, phishing scams, and ransomware, among others. Malaysia ranked among the top 3 countries in terms of mobile banking malware detections.

Alarmingly, it was revealed that Malaysian organisations cannot cope on their own to address the myriad cybersecurity threats. More than 70% of Malaysian organisations surveyed agreed that security is not their core expertise. Companies would rather engage a trusted partner for their security needs, according to IDC’s 2020 Asia/Pacific (excluding Japan) Enterprise Services Sourcing Survey

Current overview of Cybersecurity in Malaysia

Against this backdrop, Malaysian enterprises that may not have the critical cybersecurity skills, technologies and cyber defence need to make urgent strategic choices. Hence, cybersecurity must be placed at the forefront of digital business initiatives and not as an afterthought. Cyber-attacks show a yearly upward trajectory. Leaders, however, tend to deny the possibility as it can affect their firm’s stature. This denial results in a spiral of incidents where businesses fail to defend themselves from cybersecurity strikes. As such, companies end up paying hefty fees to recover from the damages done. What firms could have protected earlier at a fraction of a cyber incident cost, now serves as a strong reminder of the importance of cybersecurity.

The detachment of cybersecurity from the business functions leads to a weak understanding of cyberattacks’ imminent threats on their business decisions. Organisations that do not comprehend cyber threats and their disastrous outcomes fail to quantify the risks across business decisions. Cyber strategies are often underfunded and low in resources as there is no intent to measure cyber threats and their influence. To counter this, leaders need to understand the key cybersecurity trends and align their priorities to strengthen their cybersecurity strategies.

Few considerations for the business leaders today:

  1. Do we have visibility on any potential threats to the organisation’s technology, process and people?
  2. Are the organisations adopting adaptive threat and access protections?
  3. How do we build a secure agile development of security by design, work with security services partners and create a digital ecosystem with cyber resiliency?
  4. Do we have a business-driven adaptive security governance and risk management to grow and protect the business?

Key-cybersecurity-trends for 2021

  1. Cloud adoption – ensuring security at scale
    1. The migration towards cloud platforms outpaced the capacity for security teams to manage the threats posed by cybercriminals.2
    2. Almost three-quarters of organisations hosting data or workloads in the public cloud experienced a security incident in the last year.3
    3. The Asia-Pacific (APAC) region accounted for the highest regional rates of exposed data (35%), ransomware attacks (37%), and account compromise (33%).
  1. Securing the remote workforce – building on the lessons in the new normal
    1. Organisations are battling one another in digital adoption to ensure business resiliency, with a focus on learning from the cyber events that took place in 2020.
    2. During the Movement Control Order (MCO), Cyber999 Help Centre, the cybersecurity incident response centre operated by MyCERT received a total of 3,906 complaints between March 18th and June 30th 2020, an increase of over 90 per cent in comparison to 2019.
    3. This increased case count indicates that digital adoption strategies did not balance with equally important cybersecurity measures. Weighing the options of choosing in-house services or outsourced services can be a game-changer for those seeking to turn the ‘new normal’ into an opportunity.
  1. Internet of Things (IoT) Devices and 5G Network Deployment – borderless security protocols
    1. IDC forecasts that there will be 55.7 billion connected IoT devices by 2025.4
    2. In 2020, 57% of IoT devices were vulnerable to medium or high severity attacks.5
    3. The deployment of the 5G network would give continuity to this trend. Whilst it does provide significant value, it brings along cybersecurity concerns with it.
    4. The critical challenge facing cybersecurity teams is that traditional methods would not be sufficient to tackle IoT threats. This issue is not concerning devices but instead networks that require a whole new approach.

3-point cybersecurity checklist for business leaders

1. Realigning cybersecurity measures towards proactivity

Busines leaders needs to be more proactive in fighting cyber threats. The evidence regarding the commonplace of cyber-attacks on even large institutions suggests that big companies are not spared from such attacks. Cybersecurity incidents are traditionally dealt with in a reactive state of mind, leaving the organisation a step behind the attackers. A proactive stance allows the business leaders to securely guard their highly valued assets and build a robust digital infrastructure on all fronts.

2. Shifting the view on cybersecurity from a cost-based to ROI- and risk-based

Cybersecurity is often regarded as a compliance-driven, cost-based investment and a crisis manager – limiting its vast potential and value. These misconceptions can lead to a costly outcome. Having that traditional mindset ultimately disables important cross-functional insights from cybersecurity players, leaving the company vulnerable. Leaders need to view cybersecurity in terms of Return on Investment (ROI) and innovation-drivers. These drivers, in turn, enable the inclusivity of cyber insights into various functions of the business and tackles the problem of cybersecurity operating as a silo.  

3. Integration and collaboration on cybersecurity  

Business leaders require a ground-up rethinking of the culture surrounding IT and Security by encouraging integration and cooperation across functions and external experts. This move ensures a continuous knowledge transfer on cybersecurity, building high-skilled talents. Creating a culture that prioritises collaboration would allow cybersecurity functions to be innovation enablers and fully grasp the vital role cybersecurity plays in the organisation.

Key takeaways

Traditionally, cyber strategies are mostly cost-based and referred to as an operational element of the business. By improving the integration and collaboration in the decision-making process, cyber budgets can be perceived as risk-measured and more strategically aligned with business targets. This process translates into a better understanding of the cyber threats that each business decision holds. As a result, business leaders can drastically improve their knowledge of the elements behind cyber strategies’ ROI. In the end, there is an allowance for better prioritisation and utilisation of the cybersecurity investment.

In Malaysia, generally we are still investing in conventional security technology, which is very much basic security, more reactive and only effective for damage control measures. It is time for us to seek a new proactive and more adaptive strategic approach to cybersecurity risk management that enables Active Cyber Defense (ACD) and cyber resiliency.

For businesses, this means real-time cyber defence services, resulting in valuable time and cost savings, avoid business disruption, providing peace of mind and regulatory compliance by preventing, mitigating or eliminating cybersecurity threats.

The Managed Security Services Provider or MSSP provide the bridge to balance the needs of cybersecurity to realise the value and benefits of cloud and digital services; to grow and protect the business and in return enable organisations to focus on their transformation journey, securely and comfortably.

TM ONE, the business solutions arm of Telekom Malaysia Berhad (TM) is ever ready to deliver digital security solution to businesses and organisations to safeguard their operations. TM ONE’s Cyber Defence Centre (CYDEC) is a fully managed security services that bring multiple benefits including global cyber threat intelligence services to protect brand and reputation, online fraud and business disruptions. CYDEC also offers real-time visibility with the Global Cybersecurity Operations Centre (G-CSOC) or a 24/7 monitoring of global Cyber Threat Intelligence (CTI) services with Active Cyber Defence (ACD) capabilities.

CYDEC also delivers numerous benefit to Malaysian enterprises and public sector institutions in building digital trust and cybersecurity resilience. This is done by managing the key five (5) key areas of risk – cybersecurity, compliance, privacy, ethics and social responsibility. These managed security services provide access to real-time, continuous, predictive cybersecurity, quickly and without complexity. With CYDEC, organisations can effortlessly ensure that in-house IT resources can remain focused on their business core matters. 

Cyber threat is a huge risk to today’s world. In today’s digital era and ever-evolving technology standards, cybersecurity has quickly become a top concern and priority for individuals and companies worldwide. With this in mind, organisations are required to equip themselves to prepare for tight security measures and the best cybersecurity solutions to protect their vulnerability. It’s time to update your cybersecurity measures and get the security your business deserves. It is better to take preventive measures now than later recovering the after damages of cyberattacks. Always remember that an ounce of prevention is worth a pound of cure! 

1 Reported based on General Incident Classifications, 2020, Malaysia Computer Emergency Response Team
2 Checkpoint Cybersecurity Report 2021, Checkpoint, 2021
3 Sophos The State of Cloud Security, Sophos, 2021
4 IoT Growth Demands Rethink of Long-Term Storage Strategies, IDC, 2020
5 2020 Unit 42 IoT Threat Report, Palo Alto Networks, 2020

A new frontier for Malaysia’s digital resources

Apr 07, 2020
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“It is crucial for businesses to take cybersecurity seriously. No organisations, whether they are small or large, are immune from cyberattacks.” says TM ONE VP of Sales, Roslan Rashidi.

Data as a resource is crucial for Malaysia’s development and growth, former Minister of Communications and Multimedia Gobind Singh Deo has said.

“I’m of the view that data as a resource is essential in realising visions of the smart digital future, consisting of smart cities, and even autonomous cars,” he said at a cybersecurity conference in Singapore recently.

However, data is more often becoming the target of cybercriminals across the region and Malaysia is no exception. “Over half of all reported cyber crimes have data theft as their goal”, he added.

The free and trusted flow of data and information is a “strategic asset” for economies. Gobind further said, “Failing to embed effective security measures will erode trust and thereby undermine the stability of our information society. Our digital economies, and the platforms on which they are built, cannot be more of a source of risk than a source of development.”

Warning signs

Malaysia has seen a series of data breaches across industries in the last two months, which should serve as serious warnings to what’s possible in the future. In October, hackers targeted the country’s oldest university, and defaced its payments website. They went on to leak 24,000 login IDs and passwords online, according to reports.

And the month before that, attackers claimed a TV network as a victim, accessing customers’ IC data – including names, ID numbers, dates of birth, and address. The network, that serves 23 million people and  77% of households in Malaysia, said 0.2% of its customers were affected.

Also in September 2019, a Malaysian airline subsidiary had its passenger data stolen and put up for sale on the dark web. The data was stolen by two former employees of a contractor in India, the company found.

CyberSecurity Malaysia has said that there were 178 data breaches as of September this year, compared to 63 and 19 in 2018 and 2017, respectively. Meanwhile, a survey by insurer Chubb showed that 84 percent of local SMEs were attacked last year.

A call to arms

In response, the government has proposed stricter penalties and stronger data regulations. “We should impose a heavier penalty for data breach offenders, including companies that neglected security aspects when it comes to safeguarding customers’ data,” the CEO of CyberSecurity Malaysia, Datuk Dr Amirudin Abdul Wahab, has said.

Gobind said that the country’s data protection laws need to be updated. “We have laws that have been in place since 2010, and I think we have reached a point where we need to improve on it,” he said.

While regulations are catching up, hackers are getting more ambitious and resourceful. For instance, the attack on Singapore’s healthcare system last year “was a deliberate, targeted and well-planned cyber attack” and that “it was not the work of casual hackers or criminal gangs”, the CEO of the Singapore’s Cyber Security Agency said.

Gobind also warned that Malaysia is at risk as long as security remains an “afterthought”. He called on businesses to do more to protect customers. “By working together, we ensure that we not only anticipate, but also protect ourselves against cyber threats and cyber attacks”.

Our vision

TM ONE, recognising that cybersecurity is most crucial in today’s Hyperconnected Ecosystem, continuously strengthens its security offering for customers. In November 2019, we launched three new products during the Cybersecurity Day which was held at TM ONE Experience Centre recently.

The three new products are: a Next Generation Firewall, a Managed Security Operations Centre, and Intelligent Threat Defence. These tools will provide comprehensive coverage for the critical industries that we serve every day, while allowing them to focus on their customers.

The Next Generation Firewall is powered by artificial intelligence to continuously analyse weaknesses in networks and applications, detect malwares and botnets, and protect against DDOS attacks, amongst other sophisticated attacks.

It is the world’s first AI-enabled application firewall and powered by Engine Zero and Neural-X. Engine Zero is a AI-enabled gateway anti virus provide both signature and behavior based malware detection. And Neural X, is a AI enabled cloud-based intelligence and analytic platform against unknown cyber threats. Artificial Intelligence (AI) has powered and expands security detection capabilities for TM ONE’s network, endpoint, and security-as-a-service offerings.

The Managed Security Operations Centre helps centrally manage user access and provides real-time dashboard for vital security insights on network, data and application, incident reports and analysis. Customers have the option to deploy this for on-premise data or to monitor activities in their cloud.

It uses SIEM, an Intelligent tool that predict and alert customer on the attacks by using data collected from customer logs on security devices such Firewall & IPS, Network, Server and End-Point. It also notifies customer when incidents, threats and anomalies occur, to help organization ensure that their network is secure. 

TM ONE’s Intelligent Threat Defence system provides an automated solution to secure the entire network, without having to deploy additional systems. It stops the loss of confidential data and uses machine learning to block data exfiltration attacks.

It is a cybersecurity solution that utilises analytics and machine learning technology. Through real-time streaming analytics of live DNS queries and machine learning to accurately detect presence of data in DNS queries, it detects and automatically blocks attempts to steal intellectual property via DNS without the need for endpoint agents or additional network infrastructure.

“For businesses, where IT network and data are extremely valuable assets, it is crucial for all to take cybersecurity seriously. No organisations, whether they are small or large, are immune from cyberattacks.” Mohd Roslan Mohd Rashidi, Vice President of Sales at TM ONE, said during the launch. “These new products are evidence of TM ONE’s continuous readiness and commitment to provide the latest solutions, working together with our partners and cybersecurity experts, to ensure that our customers are able to protect their most critical assets, so that they can conduct their business with peace of mind,” he added.

Digital Nation Agenda, Hyperconnected Ecosystem: Unlocking Potentials of Cities and Industries

Aug 19, 2019
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Cloud Services, hosted at TM ONE’s Twin Core Data Centre collect, store, process and analyse data real-time and seamlessly, powered with AI to produce valuable insights in various industries.

The world is at the advent of Industrial Revolution 4.0. Internet of Things, robotics, artificial intelligence and machine learning are all revolutionising the way businesses and cities operate. Whether in communities or industries, real time data collected from devices, machines and wearables produce important insights to solve many business and societal challenges.

IMPROVING QUALITY OF LIVES

With Connected City and Living Solutions

Reduce hours in traffic with Smart Traffic Lights, save electricity consumption with Smart Street Lights, know parking availability with Smart Parking.  

Today’s city planners, township developers, and communities are working together to build better and connected cities using advanced technologies.  

ADDRESSING INDUSTRIAL CHALLENGES

With Connected Utilities Solutions

Capture water data with Smart Water Management, featuring near-real time pipeline monitoring, water quality and water level sensing, to optimise and safeguard water supply.  

With Connected Agriculture Solutions

Collect, analyse and automate real-time data on soil acidity, water level and other farming parameters to produce quality agricultural products with Smart Agriculture.    

With Connected Manufacturing Solutions

Produce better output and improve delivery time with Fleet Management and Connected Workforce. Reduce maintenance cost with Smart Forklift and Smart Genset.  

INTEGRATE SEAMLESSLY, FOR A DIGITAL MALAYSIA

With TM ONE,

Integrated Operations Centre offers managed services from monitoring, tracking and alerting any incidents. 

Cloud Services, hosted at TM ONE’s Twin Core Data Centre collect, store, process and analyse data real-time and seamlessly, powered with Artificial Intelligence to produce valuable insights in various industries, such as agriculture, manufacturing, real estate, utilities and healthcare.

How a Hyperconnected Ecosystem safeguards water supply

Aug 08, 2019
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We help the industry in addressing Non-Revenue Water (NRW) challenge, and subsequently increasing accessibility of clean water to the public with its end-to-end Internet of Water solution.

As the enterprise and public sector business solutions arm of Telekom Malaysia Bhd (TM), TM ONE’s Hyperconnected Ecosystem is capable of digitising the utility sector in the most cost efficient and effective way, to address business challenges and achieve sustainable growth.

One of the major challenges in the water sector is non-revenue water (NRW), the impact of which is colossal. TM ONE helps the industry in addressing this challenge, and subsequently increasing accessibility of clean water to the public with its end-to-end Internet of Water solution.  

What is NRW?

NRW = Volume of water put into distribution system – volume billed to customers

How can NRW be addressed through Smart Water Solutions?

water solution

Benefits from TM ONE’s Internet of Water Solution

  • Active leakage control
  • Pipeline and asset management
  • Speed and quality of repairs
  • Pressure management
  • Improving customer meter accuracy
  • Improving meter reading and billing
  • Detection of illegal connections and water pilferage  

Sensors, connectivity and big data analytics are common technologies and means less when M2M (machine-to-machine) does not talk to one another and operates seamlessly. With TM ONE’s Hyperconnected Ecosystem, businesses are ready for digital transformation, enhancing user experience while growing profits and reducing costs.

water solution infographic

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