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The stark realities of today’s cyber threats in Malaysia

Cyber security is being tested in bold and unprecedented ways as the frequency, sophistication and devastating impact of cyber-attacks increase worldwide. According to the Malaysian Minister of Home Affairs, the number of cybercrime cases rose from 17,000 in 2020 to 20,000 last year with total losses worth RM560 million[1]. Between January and February this year alone, there were already 3,273 cases reported involving losses of RM114 million.

With new threats emerging over the years as cybercriminals are continually changing tactics in an effort to bypass security, industrial organizations remain largely unprepared to manage and respond effectively. Organizations may also be facing a paradox of choice due to the vast array of solutions, with many are relatively new and sometimes untested.

KPMG's A pathway to industrial cyber resilience report reviews the current threat landscape and provides guidance on how to be better prepared for today's potentially costly and destructive threats. It also examines the role of cyber-process hazard analysis (PHA) as a toolset and identifies the potential benefits for industrial organizations.

[1] Cybersecurity remains one of Malaysia’s top concerns, says Hamzah – 28 March 2022

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