Recently, the security software analyst company BlackBerry conducted a survey through 100 local companies to ask about the preparedness of these companies against cyber attacks.
The survey, which was conducted during the NACSA CyberSecurity Summit at the end of July 2024, found that 79 percent of local companies' supply chains are vulnerable to cyber attacks through IT systems and software used by these companies.
A third of these companies say that the risk of hacking is highest through computer operating systems and IoT devices and can cause the most serious impact on these companies.
Complicating the situation is that 38 percent of companies surveyed said they needed a month to recover from cyber attacks like this.
Three of the biggest issues presented through these attacks include financial loss (71 percent), loss of reputation (68 percent) and data loss (59 percent). These statistics are seen as quite disturbing, and emphasize the importance for companies to ensure that their IT security systems are at a satisfactory level.
The Malaysian government has just gazetted the Cyber Security Act 2024 in June 2024 which emphasizes the containment of increasingly serious cyber attacks and hacking. It is hoped that with this act, the cyber security of companies, and the employees will also be more aware of the need to ensure that cyber security and company data are maintained.