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Cybersecurity Singapore:

Everything you need to know (2021)

In the digital economy, cybersecurity has become a necessity. As Singapore expands upon its ambition of being a Smart Nation, it is crucial that the cybersecurity infrastructure is well-equipped to tackle various threats that come along with it. The urgency of this was reinforced in the aftermath of the SingHealth cyber attack in 2018 – a data breach which led to the personal particulars of over 1.5 million patients being stolen.

In 2015, the Cyber Security Agency (CSA) was formed to strengthen the national protection of cybersecurity. The government then passed the Cybersecurity Bill – which became the Cybersecurity Act – in 2018 to create frameworks on licensing and regulating of cybersecurity service providers.

To deepen ASEAN’s cyber capabilities, S$30 million was set aside in 2018 to fund the Asean-Singapore Cybersecurity Centre of Excellence. This regional centre serves as a cyber think-tank and trains experts to respond to cybersecurity incidents.

As Singapore’s cybersecurity landscape continues to grow from strength to strength, we’ll keep updating this page with the latest cyber security news, reports, and resources.

What is Cybersecurity?

Cybersecurity refers to the protection of systems, processes, or data against any form of cyberattack.

As digital technology continues to change the ways that we conduct business, work, and life, it opens up new avenues for cyber attacks.

The primary goal of cybersecurity is to protect technology, and it takes various forms in doing so:

  • Network security
  • Application security
  • Information security
  • Operational security
  • Disaster recovery

Cybersecurity in Singapore: Tackling Growing Challenges

  • According to Deloitte’s 2019 Cyber Smart Index, Singapore is first in terms of exposure and preparedness rank, in part due to sound legal and organisational awareness [Source]
  • In 2019, close to two-thirds (65%) of SMEs in Singapore reported experiencing a cyber incident in the past 12 months [Source]
  • The government will set aside $1 billion over the next three years to build up Singapore’s cyber and data security capabilities, as announced at Budget 2020 [Source]
  • Organised by the Cyber Security Agency of Singapore (CSA), Singapore International Cyber Week 2019 saw more than 10,000 participants from over 60 countries, a two-fold increase from when it was first held in 2016 [Source]
  • The ICE71 (Innovation Cybersecurity Ecosystem at Block 71) found 105 cybersecurity startups based in Singapore as of August 2019 [Source]
  • Using SingCERT – which has been around since 1997, and is now under the CSA – anyone in Singapore can receive cybersecurity alerts or report cyber security incidents [Source]

The Latest Singapore Cybersecurity Reports and Resources

Notable Cybersecurity Companies and Startups in Singapore

Ensign InfoSecurity

Formed from a joint venture between Starhub and Temasek Holdings in 2018, Ensign InfoSecurity offers end-to-end security solutions to enterprises and governments globally.

SHIELD

Previously known as CashShield, this startup offers end-to-end fraud management solutions for enterprises such as Alibaba, Razer, and Grab. It raised US$20 million in a Series B funding round in 2018.

V-Key

V-Key provides mobile security solutions to protect the personal and financial data of companies’ mobile customers. As the inventor of V-OS, the world’s first virtual secure element, V-KEY has received accreditation by the Infocomm Media Development Authority (IMDA).

Horangi

Horangi provides security support to enterprises in Asia against cyberattacks. It recently raised S$28.3 million (US$20 million) in a Series B funding round with a goal of expanding into Southeast Asia.

Dathena

Dathena specialises in developing data governance software-based machine learning algorithms. In 2019, Dathena raised an undisclosed funding round led by MS&AD Ventures.

GuardRails

GuardRails is a software security startup that helps developers find, fix, and prevent security vulnerabilities in real-time. It raised S$1 million (US$1.4 million) in seed funding round in 2019.

Keyless

Founded in 2019, Keyless provides a biometric authentication and identity management platform that eliminates the need for passwords and other authentication data. It raised a total of S$3.1 million (US$2.2 million) in pre-seed funding in 2019.

Right-Hand

Right-Hand offers organisations a Software-as-a-Service platform to monitor employee-inflicted cyber risk in real-time. It then churns out behaviour analytics and relevant training modules to educate employees on their potentially risky behaviour.

Seconize

Founded in Bangalore in 2017, Seconize expanded into Singapore last year with support from Singtel and NUS. Seconize manages cyber risks for enterprises through its predictive risk intelligence technology.

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