{"id":655,"date":"2017-12-01T16:54:13","date_gmt":"2017-12-01T08:54:13","guid":{"rendered":"http:\/\/www.pacificprime.sg\/blog\/?p=655"},"modified":"2023-08-04T16:55:22","modified_gmt":"2023-08-04T08:55:22","slug":"cyber-security-management-insurance","status":"publish","type":"post","link":"https:\/\/www.pacificprime.sg\/blog\/cyber-security-management-insurance\/","title":{"rendered":"Does your company lack effective cyber security and risk management?"},"content":{"rendered":"

Cyber security is a significant focus for both Singapore\u2019s public and private sectors. With the increasing digitization of personal and sensitive information, protecting the rights and safety of clients and businesses alike has come to the forefront of corporate risk management. Unfortunately, a new study has found only a tiny number of corporates are certain their business has not experienced a cyber security breach in the past year. This week, Pacific Prime Singapore examines just where Asia-Pacific corporates are in terms of risk and compliance concerns, and what\u2019s being done to better support cyber security. <\/span><\/p>\n

40% of corporates unsure about cyber security breaches<\/span><\/h2>\n

According to a report from <\/span>SWIFT<\/span><\/a>, only 15% of enterprises surveyed could claim to have not experienced a cyber security breach in the past year. The <\/span>Asia Pacific Corporate Risk and Compliance Index<\/span><\/i> interviews 915 of Asia Pacific\u2019s Top 1,000 revenue-ranked entities across 10 major economies, and found current risk management strategies in the region to be ineffective. Stella Lim, Head of Corporates, APAC, SWIFT, believes the problem arises from a lack of understanding and awareness around cyber security, as well as the issues an attack could deliver having a low importance with senior management.<\/span><\/p>\n