Recent repost shows organisations across Hong Kong are tightening their cybersecurity measures. The tightening up is a result of the rise in the rate of cybercrimes in the country, predominantly in the banking sector while other industries have seen a more than 900% increase in cybersecurity incidents in the past years, following the country’s swift adoption of connected devices and a slope in regional cybersecurity budgets.
Hong Kong lost more than HK$2.2 billion (US$280 million) and agonized more than 9,000 cyberattacks in the first nine months of last year. It is evidently a major target for hackers. Online scams such as false banking websites, phishing emails, and fake banking apps rack up to 142 cases in 2018. In 2017, there were 44 cases. The year before that, there were only 35 incidents.
While threats, attacks and risks continue to pile up, conclusively the challenge organisations were about to face in 2019 aren’t insurmountable. The crucial aspect of managing them successfully is staying up-to-date with security systems understanding probable future threats and pacing back to comprehend big-picture trends that are driving them.
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