{"id":26331,"date":"2016-10-14T11:52:41","date_gmt":"2016-10-14T03:52:41","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=26331"},"modified":"2016-10-14T12:47:37","modified_gmt":"2016-10-14T04:47:37","slug":"malaysia-lost-rm1-billion-to-hackers-in-2014-says-cybersecurity-firm","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/malaysia-lost-rm1-billion-to-hackers-in-2014-says-cybersecurity-firm","title":{"rendered":"Malaysia Lost RM1 Billion to Hackers in 2014, Says Cybersecurity Firm"},"content":{"rendered":"<p>Malaysian companies lost an overall RM1 billion to hackers in 2014, said cybersecurity firm LE Global Services.<\/p>\n<p>It warned the number of Malaysian companies falling prey to such crimes would rise, adding that the country needed to beef up its cybersecurity facilities.<\/p>\n<p>Small and medium enterprises are prime targets as they lack resources to strengthen their online security framework or rely on third parties to protect their digital space.<\/p>\n<p>According to another firm, CyberSecurity Malaysia, the country\u2019s SMEs were 33% likely to be victims of cyberattacks, nearly 5% higher than businesses of any other country in the region.<\/p>\n<p>Among the top reasons for this are a lack of awareness on security options and haphazard management of their information and digital assets.<\/p>\n<p>As Southeast Asia is a hotspot for business, the region has made headlines for being especially weak against hackers.<\/p>\n<p>The <a href=\"https:\/\/jsis.washington.edu\/news\/asean-cybersecurity-profile-finding-path-resilient-regime\/\" target=\"_blank\" rel=\"nofollow\">absence<\/a> of compliance mechanisms and intra-bloc divergences in security priorities and capabilities render the region\u2019s cybersecurity initiatives ineffective, leaving countries highly susceptible to hackers.<\/p>\n<p>This is not the first time Malaysia has lost millions to digital theft. Between 2007 and 2012, the country lost nearly US$900 million to cybercriminals with an average of 30 Malaysians falling victim to cybercrime every day, while more than 70% of all crimes are considered cybercrime.<\/p>\n<p><em><a href=\"http:\/\/www.thestar.com.my\/news\/nation\/2016\/10\/13\/cyber-crooks-who-steal-millions-many-companies-falling-prey-to-hackers-who-have-turned-thieves\/\" target=\"_blank\" rel=\"nofollow\">[Source]<\/a><\/em><\/p>\n<h6><em>Image from Daily Dot.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Hackers stole RM1 billion from Malaysia in 2014 and many are expecting losses to rise especially among the country\u2019s small and medium enterprises.<\/p>\n","protected":false},"author":29,"featured_media":26333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,216],"tags":[],"class_list":["post-26331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news-updates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Malaysia Lost RM1 Billion to Hackers in 2014, Says Cybersecurity Firm -<\/title>\n<meta name=\"description\" content=\"Hackers stole RM1 billion from Malaysia in 2014 and many are expecting losses to rise especially among the country\u2019s small and medium enterprises.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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