ransomware

A string of Singapore Exchange-listed firms have been hit by cybersecurity attacks this year, including Beng Kuang Marine, YKGI, Jumbo Group, Aztech Global, IPS Securex Holdings and RE&S Holdings.

The Paris Olympics will be a test of cooperation and cyber resilience among its stakeholders in the face of growing threats.

The company did not disclose the date or duration of the incident, nor did it state if a ransom was paid.

They paid an average of US$1,584,130 for ransom last year, on top of the US$2.2 million of average recovery cost.

The cybersecurity incident is the latest in a spate of ransomware attacks reported by Singapore-listed companies in 2024.

2023 was a “watershed year” for ransomware with “growing intensity and sophistication of attacks”, 538 new variants found.

Bite-sized news on chatbots, cybersecurity and robots.

The cybersecurity incident is the third ransomware attack reported by a Singapore-listed company in less than two weeks.

IPS Securex reported the attack on Jan 2 and ES Group on Jan 5

Tool sprawl and generative AI are currently among CISO's major concerns, according to Splunk's report.