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Singapore: CSA publishes Singapore Cyber Landscape 2022

On June 23, 2023, the Cyber Security Agency of Singapore (CSA) published the Singapore Cyber Landscape 2022, which outlines the cybersecurity threats encountered in 2022. Specifically, the report provides that there were 8,500 reported phishing attempts in 2022, more than double the reported 3,100 cases in 2021, and more than 80% of the phishing sites masqueraded as entities in the banking and financial services sector. This compares to ransomware incidents and infected infrastructure, which both saw a decrease in cases of 13% compared to 2021.

Notably, the report highlights a potential increase in ransomware in 2023, considering the high-profile data breaches seen in 2022. Further, the report notes that artificial intelligence (AI) presents risks through more accessible and advanced technologies leveraged by third parties. Specifically, the report stipulates the possibility of third parties using AI to impersonate C-suite executives to facilitate account takeovers, business fraud, or impact the share price of an organization. Finally, the report cites risks stemming from financial pressures and a rise in the cost of living, with tighter cybersecurity budgets and fewer resources potentially translating to poor cybersecurity within organizations.

You can read the report here.