- 67% of respondents erroneously believe they are at less risk than larger counterparts
- M’sian, S’pore SMEs underestimate exposure to risk, overestimate ability to manage it
“There are those who have been breached, and those who don’t know it yet,” is a truism about computer security that has been circulating for almost a decade. Unfortunately, Malaysia and Singapore are no exceptions, based on Chubb’s SME Cyber Preparedness Reports 2019 for the two countries. 400 SMEs in each country of between 2 to 249 staff were interviewed. Manufacturing at 20% and professional services at 19% formed the two largest groups interviewed.
“There is a significant perception gap between the threats of cyber risk and the preparedness of the Malaysian SMEs to deal with them,” said Steve Crouch, Chubb Insurance Malaysia Bhd Country President. Chubb is the world’s largest publicly traded property and casualty insurance company. For Singapore, the report for that country similarly claims there is a “clear gap between perceived and actual preparedness”.
“We hope that this report will be a wake-up call for all SMEs,” asserted Crouch. “It’s time to recognize when it comes to…
