Inter-agency task force set up to coordinate efforts as ransomware cases surge
An interagency task force has been set up to tackle the growing problem of ransomware now they were close to 140 cases here in Singapore last year that’s an over 50 percent jump from the year before Geraldine yacht reports to the opening of Singapore International cyber week in a speech senior Minister tiochi Yen.
Highlighted the growing impact of cyber threats given that the digital domain is now an important and indispensable part of everyday life one such threat that he singled out was ransomware ransomware criminals can be opportunistic and highly sophisticated they take advantage of poor cyber security practices to gain access to.
Their victims systems and data they bet on the victimized organizations being more willing to pay the ransom and hide the attack than to report the crime they take advantage of gaps between jurisdictions to evade law enforcement to tackle this problem a new task force has been put together comprising.
Representatives from various government agencies they include the cyber security agency of Singapore govtek the infocom media development Authority as well as several Ministries among other things the task force will look at greater International cooperation a report on recommended strategies will be published in due course one cyber security expert.
That I spoke with outlined what the task force will have to look at the goals of these task force is really to deter ransomware actors by bringing together not only a national but a multinational collaboration to stop ransomware actors from being able to to you know convert on the Bitcoin transactions to be able to trace what they’re doing to take down.
Their infrastructure there’s all also a huge impetus to educate and to prevent ransomware from happening by by beefing up the security of not only multinational companies both public and private but small medium business as well adds that individuals also have a responsibility to adopt good cyber security practices and protect their.
Systems and devices to help do that the cyber security agency is launching a new internet hygiene portal to help businesses adopt safer Internet Security practices and let users understand how secure the websites they visit are for a start the agency is publishing a rating table for the e-commerce sector before expanding that to other sectors such as.
Banking and finance and Healthcare