25 February 2022 | Asia Cyber Summary

In the Spotlight this Week:

DBS Rolls Out Complimentary Cyber Security Training for Singapore SMEs

DBS has announced that it will offer a complimentary cyber security training programme to help protect Singaporean small and medium-sized enterprises (SMEs).

At the end of the programme—known as DBS #CyberWellness—participating businesses will be given recommendations for suitable cyber insurance and cyber security solutions. This enables SMEs to take immediate steps to protect their businesses from potential cyber attacks, DBS said.

The programme is composed of 10 online modules, each covering a different facet of cyber security, such as password protection, phishing, digital scams, physical security and social media security. All 10 modules can be accessed on the go and can be completed in less than 120 minutes, making it accessible to busy business owners and employees.

US Warns Defense Contractors of Potential Russian Cyber Attack

US agencies on Wednesday warned American defense contractors about possible cyberattacks by Russian state-sponsored actors. The Federal Bureau of Investigation, National Security Agency and the Cybersecurity and Infrastructure Security Agency have observed such cyber targeting from at least January 2020 through February 2022, the agencies said in a joint advisory.

The agencies urged all defense contractors to apply the recommended countermeasures regardless of whether there is evidence they have been compromised. The warning comes amid heightened tensions between the United States and Russia over threats to Ukraine’s sovereignty.

Japan FSA to Inspect FIs for Cyber Security Effectiveness

The Japanese Financial Services Agency will carry out inspections to verify the effectiveness of cyber security systems at Financial Institutions. Common issues and good practices identified will be shared with the broader industry in Japan.

The updated policy highlights that the FSA will carry out inspections and monitoring according to the scale and characteristics of financial institutions and cyber security risks, and verify the cyber security management system.

The FSA also noted that common issues and good practices will be returned to affiliated financial institutions through industry groups, and the advancement of cyber security in the financial industry as a whole will be promoted.

Increased Government Censorship Sees VPN Use Surge Across Asia

Countries across Asia are experiencing a surge of VPN use, an uptake that is likely due to increased censorship in the region.

ProtonVPN, which specializes in VPN services, conducted a study based on data from their users who signed up in the past 18 months. The analysis encompassed economic, social, and political ongoings that were happening in each country.

Myanmar (Burma), Hong Kong, and Russia all recorded a record surge in sign-ups, with their respective political and social climates seen to be linked.

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