The main cyberthreats facing Singaporean SMBs come from phishing, malware and ransomware. According to a Cisco cybersecurity report, two in five Singaporean SMBs suffered some form of cyber-attack in the last year. Malware made up 79% of these attacks while phishing accounted for 70%
According to McAfee, the average cost of a cyber-attack for a Singaporean business is SGD1.7 million per breach. The rapid shift to remote working during the pandemic was a significant contributing factor to this large figure.
And in a new IDG Research Services survey commissioned by Insight Enterprises, almost 80% of senior IT and security staff believe their businesses lack sufficient protection against cyber-attacks. This was despite increased IT security investments made in 2020, to deal with work-from-home challenges
The statistics show that having a high-grade level of security is no longer negotiable, even for SMBs. We round up the cybersecurity solution that will go a long way in protecting your company’s data and IT infrastructure.
Security-as-a-Service (SeCaaS)
SeCaaS allows you to manage your endpoint security, email security and perimeter security all on one platform at an affordable monthly subscription. A managed solution it automates cybersecurity for your business. You can concentrate on day-to-day operations while SeCaaS handles the following:
Unified Threat Management
Multiple security features or services are combined into a single device within your network. Using UTM, network users are protected with several different features, including antivirus, content filtering, email and web filtering, and anti-spam.
Endpoint Security
An endpoint protection solution discovers risks, then monitors and assesses the level of danger. Once the system identifies a threat, it can automatically contain and eliminate it. This is done using automated processes specifically designed with your business’ system in mind. Endpoint protection may also involve reducing your network’s exposure by eliminating or bypassing endpoints that elevate the level of risk.
Email Security
The delivery of advanced multi-layered protection against the full spectrum of email-borne threats, including phishing, malware and other business email compromises.
Managed Security
Not all SMBs have the resources for a dedicated cybersecurity expert, but it’s possible to outsource cybersecurity monitoring to Managed Security service providers. With the necessary solutions in place, the service provider will have a view of your cyber health, including the performance of your firewall as well as endpoint and email security applications. They can detect any threats and take action before any damage is done.