Cyber Security in Singapore
Cyber Security is a bigger topic now than ever before. Between viruses and trojans invading systems all over the world, hackers invading people’s personal data, and governments keeping tabs on just about everyone, people and businesses today realize just how hard it can be to protect their information. In fact, worry over cyber security issues is perhaps the highest it has ever been following the WannaCry cyber attack that occurred in May of 2017. With this recent attack in mind, Pacific Prime Singapore discusses the current landscape of cyber security, as well as steps companies and people can take to protect their computers, servers and reputations.
What WannaCry means for cyber security
Perhaps the most worrying aspect of the WannaCry ransomware attacks is that they were the result of human error. The significance of this fact is that it means that a great many of those infected with the malicious software could have avoided downloading it to begin with. It also shows how diligent businesses and individuals need to be when it comes to computer education and user best practices. Even an organization as powerful as the U.S. government was not able to provide full protection from cyber crime. After all, it was their information being hacked that allowed WannaCry to work in the first place.
WannaCry worked by exploiting weaknesses in Windows operating systems to encrypt the files on a given computer. The user would then have to pay a ransom in bitcoin, or all of their files would be deleted forever.
Battling back
People in Singapore do have reason to worry about hackers and viruses. Especially so now that a U.S. intelligence firm has publicly stated that they believe the creators of WannaCry could possibly be from Singapore, Hong Kong, Taiwan or the southern part of mainland China. So, once a computer has been exposed to malicious software, what can be done to fix the problem? First, it is advisable to download credible anti-virus software and make sure that it is updating on a regular basis. Updating is important as, much like organic viruses, hackers are constantly changing their software to get past new security measures put in place by users.
Beyond this, if you feel like your computer’s performance may indicate the presence of malicious software, use your security program to scan your system. There is a chance that the threat can be eliminated this way. However, some viruses are written in a way that makes difficult, if not impossible, to remove while Windows is running. For these, there are special anti-virus programs available that boot and run completely outside of the Windows operating system in order to get rid of even the most pervasive malware.
Keep in mind that many anti-virus programs do not search for ‘junkware’ like search engine changers, toolbars, Bitcoin miners and other programs that clutter up and slow down your system in order to make money for their creators. More specialized malware removal software that deal with junkware.
As a last line of defense – when all other options have failed – you can do a factory reset on your computer. Any personal files you’ve created will be saved, but any installed software will be deleted and your computer will revert to its original settings. Of course, the other way to get your computer clean and functioning properly again is to completely reformat its hard drive and reinstall the operating system, but this will lead to a loss of data that many users may not find an acceptable outcome.
Cyber crime prevention
Trying to remedy a cyber attack of any kind can lead to a solution to the problem presented, but the fact is that the best offense against cyber criminals is a good defense. In fact, something as simple as ensuring that your operating system is updated on a regular basis can prevent malicious code from getting the best of you. For an example, look no further than WannaCry itself. The exploit the software used was known by Microsoft for some time, and had already been addressed with Windows update. However, those than had older versions of Windows, or who had not updated their systems were still at risk of digital infection.
Thus, the first step is to establish best practices that not only include regular operating system and security software updates, but also to educate users about the files that they should and should not open. Obviously, opening attachments from unknown senders should be avoided completely, but as some viruses hijack people’s email accounts and contacts, even friends could be unknowingly sending you a virus. Thus, scan all files with your security software before you open them. Users should also take care to limit the amount of personal information that they make available online. Hackers frequently gain access to user accounts using personal information they are able to scrape from social media and other online outlets.
Additionally, when it comes to your home or business network, take steps to prevent easy access wherever possible. Create quality passwords on all wifi connections and computer terminals with WPA or WPA2 encryption where applicable. Also, turn off SSID so that your network’s name is not publicly available. This will only require you to manually enter the network name in order to login. Finally, putting firewalls and site blockers in place for your users can restrict access to unsafe websites known to house viruses and the like.
Cyber insurance
Another way to protect yourself and/or your company from hackers and viruses of various types is with cyber insurance. This type of insurance coverage provides benefits to you in the event that you systems are exposed to malicious software, your data is lost, or an invasion into your systems results in losses to a third party. In 2016 alone, there were over 3.1 billion records leaked or hacked globally.
From a financial perspective, the largest liability for companies with data breaches these days is from lawsuits that can come from user data being compromised. Cyber insurance can address the costs of settling these damages so that the business can continue to run smoothly. Of course, if extensive damage to your systems does result in an interruption to your business operations, cyber insurance can also include coverage that will dispense funds that will allow you to continue operating until such time as your systems are repaired.
Still another type of benefit included with some cyber insurance plans will provide funds to be used for recovering from damages to your computer systems and restoring your electronic data. Finally, you are no doubt going to want to catch any individuals involved with hacking into your systems, so cyber insurance can provide benefits for the purpose of forensic investigation of the crime and its perpetrators. There are even more specifics to cyber insurance plans, but it can be seen already that they can have a broad and extremely helpful effect for the insured.
To address your cyber security insurance needs and protect not only your information, but that of your clients and loved ones, contact the knowledgeable professionals at Pacific Prime Singapore. We work with the city-state’s major insurers to source the very best in cyber security insurance plans to address your specific needs.
Since joining Pacific Prime, Martin has become even more aware of the gap between the true value of insurance products and most people’s appreciation of it, and developed a passion for demystifying and simplifying matters, so that more people get the protection they need at a cost they can easily afford.
In his free time, Martin attends concerts of various genres, and plays the violin with piano accompaniment he pre-recorded himself or played live by his niece.
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