Cost of cybersecurity breach in Malaysia
Media Prima Bhd. was hit by a ransomware attack in early November 2018. It is learnt that the malicious attackers demanded the media group to pay 1,000 bitcoins to access its email system again.
It is estimated that an almost instant detection of a cybersecurity breach within a large enterprise costs the business US$433,000 (equivalent to RM1.8 million). The costs triple to an average US$1.204 million if detection is delayed by more than a week.
At least 84% of Malaysian respondents have suffered a breach in 2017 with 36% expected similar attacks to take place within 2019.
According to Cisco 2018 Asia Pacific Capabilities Benchmark Study, 51% of companies in Malaysia receive more than 5,000 alerts each day, buy they do not address more than 50% of the legitimate cyber threat alerts that they received.
Source: The Edge Malaysia - Cyber threat alerts not addressed
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