According to a recent study by Kaspersky, globally, critical infrastructure, oil&gas and energy organisations suffered the biggest number of cyber incidents due to improper budget allocation (25%). In Asia Pacific, however, retail industry experienced the greatest number of successful cyberattacks in the past 24 months.
The latest survey also revealed 19% of companies in the region have experienced cyber incidents due to insufficient cybersecurity investment in the last two years. When it comes to companies’ finances, nearly one-in-five (16%) admit they do not have the budget for adequate cybersecurity measures.
Kaspersky conducted a study to discover the opinions of IT Security professionals working for SMEs and enterprises worldwide regarding the human impact on the cybersecurity in a company. The research – aimed at gathering information on various groups of people who influence cybersecurity – considered both internal staff, and external contractors. It also analyzed the impact decision makers have on cybersecurity in terms of budget allocation. A total of 234 respondents from APAC were surveyed.
Insufficient distribution of budget for cybersecurity led 19% of Asian companies to endure cyber incidents in the last two years.
The situation is different for every industry. For example, retail organisations suffered the greatest number of cyber breaches because of the lack of budget (37%), followed by telecommunication companies (33%) and critical infrastructure, energy, oil and gas sector (23%).
“E-commerce is expected to be a 2.05 trillion USD market in Asia Pacific towards the end of 2023. Retail being the industry which suffered most cyber incidents here makes sense as cybercriminals follow the money trail. These companies are part of the greater digitalisation movement in the region and hold treasure troves of data, specifically financial ones,” comments Adrian Hia, Managing Director for Asia Pacific at Kaspersky.
“Our recent study proves that threat actors know which compan ..
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