What type of Cyber Experts are growing in demand in Singapore?
In times of a global pandemic, the digital world supports us tremendously by keeping the world connected whilst we practice social distancing.
However, what has been overlooked is the increasing online threats that suggest economies are not ready to go completely digital. Cybersecurity remains a critical enabler for digitalisation, and strategies will be needed to prioritize the protection of our cyberspace.
We spoke to Delfina Tan, Senior Recruitment Consultant from Huxley Singapore who shared with us what cyber talents need to look out for today.
Increasing cases of fraudulent hacks, scams and privacy issues in Singapore
In Singapore, it was reported that e-commerce scams have been commonplace in the first three months of this year, with "COVID-19-related items" accounting for about one in four such cases. Fake loan schemes were another common tactic as scammers got away with at least $41.3 million in total between January and March this year. The total amount lost has grown by 27.9 per cent compared with the same period last year. The Singapore Police Force reported that fraudulent sellers duped 1,159 victims out of at least $1.3 million in e-commerce scams in the first quarter of this year.
- Banking and Finance
In the financial sector, fraudsters got away with at least $1 million, by making fraudulent transactions from their victims' bank accounts and mobile wallets. The largest sum cheated in a single case was $302,000, as reported by the police. A Singapore-based cybersecurity company, Group-IB has also detected a fresh database of credit and debit cards issued by Indian banks available for sale on the Dark Web in February. This database includes payment records of 461,976 cards – 98 per cent of which were from the "largest Indian banks".
Loan scams have also continued to grow, with the number of cases rising to 421 between January to March this year, an approximate 50 per cent increase from 281 in the same period last year.
With more organisations migrating their business and workplace online, there has been several cases of hacks and scams on platforms like Zoom.
In response to the news, Zoom have updated that they will continue to investigate the situation and will be hiring multiple intelligence firms to find these password dumps and the tools used to create them.
As such, there has be an unprecedented need for Singapore to stay vigilant and be equipped with a strong talent pool of cyber experts. In order to keep up with an ever-changing digital landscape with evolving threats, the Government has stepped up to lead by example, offering new initiatives to ensure businesses and individuals are prepared.
Government initiatives in Singapore
The Singaporean government has established much-needed data protection legislation, helping Singapore rank number one in a recent survey titled the Deloitte Cyber Smart Index 2020. Singapore tops the list on both exposure levels as well as preparation, with an adequate amount of awareness to set up a data security review committee that is charged with studying and enhancing data security measures within this island nation.
Announced earlier this year – a new ‘SG Cyber Talent’ initiative launched by the Cyber Security Agency of Singapore (CSA). It aims to groom more than 20,000 individuals who will be talent-spotted for cyber security over the next three years. ‘SG Cyber Leaders’ initiative will also aim to boost cyber security talent here by "building communities of practice, offering training in cyber security and connecting them to global best practices and technologies", reported by The Straits Times.
Greater demand for cyber roles
Our Huxley team have noted that demand for roles in cybersecurity include the following:
- Chief Information Security Officer
- Cyber Risk Manager
- Risk Analyst
- Malware Analyst
- Testers and Threat Investigators
- Principal Researchers, Security Engineers and Architects
This is based on the trends mentioned above and requirements Huxley has been receiving.
As individuals, you can also play your part to ensure your privacy and security is not compromised during this circuit breaker period. Our Huxley team has a few tips to help you tackle the following scams and threats.
Email phishing scams
- Check whether the alleged sender is actually the sender. Sometimes there are multiple email addresses in the list of senders. If in doubt, you can reveal all the senders by selecting 'reply';
- Don't open links and/or attachments from senders you don't know;
- Do not send personal data to unknown senders;
- If the email asks you to open an attachment or website, hover your mouse over the link to see if it leads to a web page;
- If you arrive at a web page you don't trust via email, you can see in the browser's URL bar whether you've been redirected to another website;
- Change the default password you use to connect;
- Hide the network from others;
- Do not share your password with people outside the household or close friends;
- Regularly check if any unknown devices are connected to the network;
- Be careful when downloading applications that provide unlikely information.
- Use double authentication - such as Google Authenticator - provides an extra secure environment;
- Create passwords with special characters, numbers and uppercase letters;
- Long passwords are more difficult to retrieve using the brute force attacking tactic, so make sure the password has a minimum of characters to match;
- Prevent the local storage of passwords.
We can help
Are you an individual looking to make a break into the cyber sector, or is your firm looking for the right cyber talent? Contact us via the form below or view the latest job openings here.