INTELLIGENT BRANDS // Enterprise Security

Report pinpoints proliferation of Generative AI circumventing approaches to authentication and verification of identity .

This year , the report incorporates a new approach by providing detailed insights into specific threat actors .

“ We have observed an overall lack of cybersecurity awareness across organisations in Asia . While this is deeply concerning , we envision new AI-powered technologies playing a big role in the next tech revolution . Policy and regulation , along with a strong ethical framework for AI , will go a long way in casting a security net for nations at large and organisations in particular ,” said Lim Minhan , Head of Consulting at Ensign InfoSecurity .

Key insights from the report include :

Singapore : Energy & water utilities , healthcare and transport identified as the most vulnerable sectors .

( Internet of Medical Things ) has created a matrix of difficult-to-manage networks resulting in a wide digital attack surface – it is most likely that many healthcare networks are already compromised .

Top Threat Trends in 2022

2022 saw an increasing evolution and proliferation in the use of Ransomware and Wiperware as cyber weapon platforms . The year also saw the continued impact of cyber supply chain compromise due to large-scale , deployed components which are vulnerable and lead to the compromise of several bigname victim companies .

The evolving exploitation of IoT ), mobile devices , applications and operational technology for greater leverage by threat actors . The continued proliferation of the Ransomware-as-a-Service ( RaaS ) model , resulting in a shift in the number of attacks targeting SMEs – many of which may support essential service providers .

Regionally , the report reveals activities by state-sponsored and organised threat groups originating from China have now eclipsed those of state-sponsored groups operating from Russia and North Korea .

AI and Business Cyber Resilience

Generative AI ( GAI ) remains a double-edged sword , with threat actors exploiting GAI to create convincing phishing content with 10 – 15 % higher click through rates , develop malware faster and circumvent authentication and identity verifications by synthetically generating imagery and voice representations .

While it seems that GAI development and proliferation may favour threat actors , cyber defenders are also leveraging GAI and other forms of AI technologies to enhance their own efficiency and effectiveness to accelerate the resolution of low-level cyberattacks , freeing up defenders to focus on more complex issues . p

Singapore ’ s transport industry group ( aviation , maritime and land transportation ) – saw an average dwell time – the time malicious actors have compromised a system before being detected and contained – of 71 days , higher than the previously reported regional average of 33 days , but lower than the observed regional average of 83 days . Singapore ’ s energy and water industry was the target of mostly highly sophisticated attacks .

Increasing digitisation in the healthcare sector and the advancement of IoMT

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