Connect with us

TECHNOLOGY

Majority of business execs in SEA anticipate data theft, APT, ransomware attacks  

August 3, 2022 8:04 p.m.

With the many news reports highlighting the damages of cyberattacks against businesses and countries as a whole, Kaspersky’s fresh study revealed the heightened awareness of business executives in Southeast Asia (SEA) about the sophisticated risks online.

Data theft, alongside Advanced Persistent Threat (APT) attacks and ransomware infections, are the highest on their list of concerns.

The study titled “How business executives perceive ransomware threat” surveyed a total of 900 senior non-IT management (such as CEOs, VP, and Director level) and business owners or partners at companies with 50—1000 employees. Conducted last April, the study was done globally with 100 executives from SEA.

When asked to assess the possibility of different types of cybersecurity incidents, data theft, also known as data breach, is the threat that the respondents from SEA are most concerned about (77%).

This does not come as a surprise as news about data breaches across the region were being reported almost regularly with wide victimology from e-commerce companies, digital services provider, hotel chains, insurance and health companies, and even government agencies.

Data theft – the illegal transfer or storage of personal, confidential, or financial information – is closely followed by an APT attack (75%), and a ransomware attack (73%).

An APT attack uses continuous, clandestine, and sophisticated hacking techniques to gain access to a system and remain inside for a prolonged period of time, with potentially destructive consequences.

Because of the level of effort needed to carry out such an attack, APTs are usually leveled at high-value targets, such as nation states and large corporations, with the ultimate goal of stealing information over a long period of time.

Ransomware, as the name suggests, is malicious software designed to block access to a computer system or encrypt its data until a sum of money (a ransom) is paid.

These attacks have been carried out on individuals or corporations.

The anticipation for these three damaging attacks is higher among SEA-based business leaders as compared to the global average by more or less double-digit margins.

However, the same study revealed that while the majority of the respondents anticipate a ransomware attack, almost 7 in every 10 (65%) of them believe that “the possibility of my organization being exposed to a ransomware attack is too small to worry about”.

A majority (81%) of the surveyed non-IT executives in SEA also trust that the security measures they have in place are enough to protect them from a ransomware attempt.

“At first glance, it is good to see that the business executives here are confident about their security posture to defend their organizations against damaging online attacks such as ransomware. We should, however, be careful about not letting confidence breed complacency because the reality is a ransomware attack is not something too small for enterprises to be worried about,” comments Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky.

“Even though 72% of our respondents from SEA believe that ransomware attacks are being shown as a bigger threat than they actually are by the media, this type of threat is actually evolving and is transforming into a bigger menace that our security systems and IT staffs should be ready for,” adds Yeo.

Since 2020, Kaspersky experts have been warning about “Ransomware 2.0”. Almost always a “targeted ransomware”, Ransomware 2.0 refers to cybercriminal groups who moved from hostaging data to exfiltrating data coupled with blackmailing.

The aftermaths of a successful attack include significant monetary loss and damaging reputation loss.

This type of attack goes beyond kidnapping a company’s or an organization’s data. These groups are utilizing the increasingly valued digital reputation to force their prey to pay a hefty ransom.

As of 2020, at least 61 entities from the region were breached by targeted ransomware groups including companies from light industry – including the manufacturing of clothes, shoes, furniture, consumer electronics and home appliances; public service, media and Technology, heavy industry – including oil, mining, shipbuilding, steel, chemicals, machinery manufacturing; finance, and logistics.

The infamous ransomware groups Kaspersky experts closely monitor include REvil, LockBit, Conti, and more.

To help organizations protect their systems from ransomware and other sophisticated attacks, Kaspersky experts recommend the following:

  • Always keep up-to-date copies of your files so you can replace them in case they are lost (e.g. due to malware or a broken device). These should be stored not only on a physical device but also in cloud storage for greater reliability. Make sure you can quickly access your backups in the event of an emergency.
  • Keep your OS and software patched and up to date.
  • Train all employees on cybersecurity best practices while they work remotely. 
  • Only use secure technologies for remote connection.
  • Carry out a security assessment on your network.
  • Enterprise companies are recommended to use anti-APT and EDR solutions, enabling capabilities for advanced threat discovery and detection, investigation and timely remediation of incidents, as well as to have access to the latest threat intelligence. An MDR provider could help to effectively hunt any advanced ransomware attack. All of the above is available within Kaspersky Expert Security.
  • Follow the latest trends via premium threat intelligence subscriptions, like Kaspersky APT Intelligence Service.
  • Know your enemy: identify new undetected malware on premises with Kaspersky Threat Attribution Engine.
  • If you become a victim, never pay the ransom. It won’t guarantee you get your data back but will encourage criminals to continue their business. Instead, report the incident to your local law enforcement agency. Try to find a decryptor on the internet – you can find some of these available at nomoreransom.org.
  • Never follow the demands of the criminals. Do not fight alone – contact Law Enforcement, CERT, security vendors like Kaspersky.  

For companies looking to improve the expertise of their in-house digital forensics and incident response teams, as well as for IT security practitioners looking to upgrade relevant skills, Kaspersky has also expanded its online expert training portfolio. 

The Windows Incident Response training was developed by experts from the company’s Global Emergency Response Team (GERT) with more than 12 years’ experience in the field. 

The self-guided training course includes 40 video lessons and 100 hours of virtual lab time for hands-on learning. The estimated training duration is 15 hours, but participants will have six months of access to the platform to finish the traini

More information about the Windows Incident Response course is available via this link.

Related Topics:
Continue Reading
Advertisement

Click to comment

Leave a Reply

Your email address will not be published.

TECHNOLOGY

LG honored with multiple awards for Innovative Product Design at IDEA 2023

September 4, 2023 3:11 p.m.

LG Electronics (LG) has once again been recognized for outstanding product design, earning 13 awards at the International Design Excellence Awards (IDEA) 2023, announced at the International Design Conference in New York, New York.

The LG PuriCare AeroTower, an air purifier that can also be used as a side table and mood lamp, was honored with a Bronze Award at yesterday’s conference. Offering personalized performance and design options, as well as a compact form factor, LG’s air purifier can be tailored to match any home interior and is ideal for smaller spaces. With its latest win, the LG PuriCare AeroTower has now been recognized by all three of the world’s top industrial design award programs: IDEA, the Red Dot Award and iF Design Award.

Another IDEA 2023 honoree, the LG OLED Flex (model LX3) is an innovative TV featuring the world’s first bendable 42-inch OLED screen. The LX3, which made its international debut at IFA last year, offers a new level of screen customizability – its self-lit display able to go from completely flat to spectacularly curved with the push of a button.

“The achievement from this year’s IDEA is the result of the synergy between customer experience-centered technology and aesthetics,” said Hwang Sung-gyul, head of the Design Management Center at LG Electronics. “We will continue to improve the level of perfection by reflecting innovative customer experiences beyond the existing framework in product design by constantly communicating and empathizing with customers.”

Organized annually by the Industrial Designers Society of America (IDSA), IDEA is one of the world’s leading design award programs, recognizing exceptional achievements in the area of industrial design while taking into consideration various factors relating to design strategy, digital interaction, the environment, and social impact, when selecting award recipients.

Life’s about more than having the latest technology, rather, it’s about the experiences technology creates that impact our lives. LG Electronics Philippines delivers consumer electronics through top-of-the-line home entertainment appliances that prepare Filipinos for their greatest moments. LG promises to bring “Innovation for a Better Life” nationwide – from Luzon, to Visayas, and Mindanao. LG products are available via lg.com/ph and through its flagship stores in Lazada and Shopee. For more information, visit and follow their social media channels on Facebook, Instagram, Tiktok and Youtube (@lgphilippines).

Continue Reading

TECHNOLOGY

TCL AAT Inverter+ Refrigerators take lead to healthier lifestyle

July 10, 2023 4:33 p.m.

TCL, the leading consumer electronics brand and the world’s top two TV brand, launches their latest Free Build-In refrigerator that is highlighted by three defining features based on TCL’s advanced technology and elevated design. 

Just in time for this month’s celebration of Nutrition month, TCL introduces the newest Refrigerator line up that reflects TCL’s dedication to delivering cutting-edge home technology at reasonable prices while enabling users to live healthier, more environmentally friendly, and more practical lives.

Introducing TCL’s Flagship Smart Fridge with Health and Energy-Saving Benefits

TCL’s AAT Inverter+ is set to be the best accessible high-tech top-mount refrigerator on the market and a great example of the powerful functionality featured across the TCL Refrigerator lineup.

With Filipino families becoming more health conscious than ever before, TCL AAT Inverter+’s Healthy Fresh functions are equipped with smart functions to keep your food chilled at the right temperature and ensure it stays fresher for longer, with the innovative Multi Air flow system, AI radar, and the Automatic Anion-releasing Technology (AAT) .

Speaking of better care of health, TCL’s AAT Inverter + also puts emphasis on its care for the planet. Its Twin Eco Inverter provides the perfect cooling environment for food, which not only enables long-lasting freshness but also saves energy and money. The Twin Eco Inverter also provides a steady temperature inside the refrigerator which inhibits the growth of ice, a process known as Total No Frost. Food remains frost-free so there is no need for manual defrost and no danger of food sticking to the walls of the refrigerator or being frozen when placed towards the back.

Lastly, the Easy-Using features give the user experience a premium feel, with little adaptations to make life more convenient, such as large storage space, Twist Ice Maker to freeze, unmold and store ice cubes with a simple gesture.

The TCL’s Varied Refrigerator Range Suited for Every Filipino Family

Aside from TCL AAT Inverter+, TCL has an extensive range of refrigerators to suit every Filipino family’s needs. The TCL FreshPro Direct Cool+ line is an accessible but highly functionable range, with precise temperature control allowing for accurate cooling to ensure optimum conditions to preserve freshness. TCL FreshPro Direct Cool+ Refrigerators are designed to be running at low noise thanks to innovative compressors, ensuring you are never disturbed by humming or buzzing, and soft LED lighting offers excellent illumination of the fridge contents whilst saving on energy consumption.

Regarding the energy saving aspect, like the TCL AAT Inverter+, The TCL FreshPro AAT Inverter Max collection also comes with a Twin Eco Inverter, which allows accurate temperature control whilst reducing energy consumption and noise for a quieter and more environmentally friendly option. What’s amazing is that the TCL FreshPro AAT Inverter Max range comes equipped with powerful cooling functions – with just a press of one button, the Power Cool increases the cooling rate to chill your drinks and food rapidly whilst the Power Freeze further enhances the cooling effect to freeze food and ice. The Max Space feature allows families to customize storage within the fridge to suit their requirements, with daily items organized to be easily accessible whilst optimizing the space available allowing the ability to stock up on family favorites.

Discover TCL’s range of refrigerators to suit every consumer’s requirements, rolling out across retailers in the Philippines this month.

Continue Reading

TECHNOLOGY

Huawei’s Sabrina Meng: Embracing 5G transformation

June 28, 20237:30 p.m.

SHANGHAI — At the opening day of MWC Shanghai 2023 today, Sabrina Meng, Huawei’s Rotating Chairwoman and CFO, gave a keynote titled “Embracing 5G transformation”.

“5G has been in commercial use around the world for four years now. It’s driving new value creation, and 5.5G is the next step forward,” said Meng. “Science and technology are moving towards large, complex systems. This requires matching technology to specific scenarios and performing systems engineering, in order to pave the way for 5G’s ongoing success.”

5G is creating value along three different fronts

Science fiction can only sketch the future. But science and technology can turn imagination into reality.

5G has been in commercial use for four years now. Across all industries and countless households around the world, it’s changing the way we work and live, creating tremendous economic, industrial, and social value.

For consumers, 5G, cloud, and AI have set off a chain reaction, creating an environment where all buyers can also be sellers.

For industries, 5G has become a new driver of productivity. There’s greater alignment than ever between technology suppliers, their partners, and customers on where 5G can provide the most value. Strategic patience, in-depth understanding of industrial scenarios, and ongoing improvements to ROI have given 5G a foothold in industrial applications.

Moving ahead, 5G will give rise to new devices and applications that deliver a more immersive experience, like 5G New Calling and naked-eye 3D. 5G is also ushering in a new era of super-connectivity between things, bringing new strength to IoT networks and driving new forms of productivity.

5.5G is the next step forward for 5G. 5.5G will feature 10-gigabit downlink speeds, gigabit uplink speeds, the ability to support 100 billion connections, and native AI. It will not only connect people better – it will also create incredible new business opportunities with more targeted support for industrial needs in domains like IoT, sensing, and advanced manufacturing.

Taking 5G to the next level and paving the way for ongoing success

The ladder to success isn’t built on ongoing progress with a single technology. It’s built on matching technology to specific scenarios and real-world needs. And systems engineering is key to taking the next step up.

The commercial deployment of 5G has created a growing appetite for more groundbreaking, leapfrog innovation. So what will take 5G to the next level, and how will it provide greater value in different vertical markets?

This will require finding the right technology for different scenarios and performing more comprehensive systems engineering. This will also require diving deeper into industrial scenarios, truly understanding customers’ pain points, and adopting a more holistic systems engineering mindset.

The industry needs to work more closely together both up and down the value chain – with peers and partners, customers and developers – on solution modeling and optimization, as well as tools and methodologies. The industry also needs to pave the way for ongoing success throughout the entire product lifecycle, from R&D and procurement, to supply and marketing.

Building up integrated capabilities and exploring the future of communications

The digital infrastructure of the future intelligent world will be deeply integrated into every aspect of people’s lives, industry, and society. It won’t be based on advancements in individual technologies, but rather on incredibly massive, complex systems – the convergence of multiple elements. It’s going to require systems-level thinking and design.

When watching a chess game, you can see the big picture. But when you’re playing chess, you focus on the details. Likewise, systematic capabilities to integrate technology and transform management are critical for the future success of 5G.

Meng spoke about two specific types of integrated capabilities. “The first is integrating different technologies. We can achieve greater synergy across cloud, networks, edge, and devices through systematic design and cross-domain innovation. When coupled with optimization across software, hardware, chips, and algorithms, we can address the challenges associated with developing complex solutions for vastly different industrial scenarios.”

“The second,” she continued, “is the ability to integrate different approaches to management. Digital and intelligent transformation is not just about technology itself. It’s more about transforming your approach to management. Going digital requires redefining the relationships between people, events, things, and theory, and adopting a more open, forward-looking management approach to address future challenges.”

Meng concluded: “Information technologies like 5G, 5.5G, AI, and cloud will help us rise with the tide and take us forward to an intelligent world. The best scenery is always ahead. Let’s create a bright future together.”

In the Philippines, the three major telecommunications service providers have rolled out 5G networks nationwide to offer better network services and optimize the potential of innovative technology.

Continue Reading