Asean is at growing risk of cyber-attacks, which could expose the region’s top-listed firms to a US$750 billion (23.9 trillion baht) erosion in current market capitalisation, according to research conducted by global management consulting firm A.T. Kearney, commissioned by Cisco.
Gareth Pereira, A.T. Kearney principal of media and technology practice, said the growing strategic relevance of Asean, driven by economic expansion and ongoing digital adoption, make it a prime target for cyber-attacks.
Cyber-risk is perceived to be an IT rather than a business problem, but regional businesses do not have a comprehensive approach to cybersecurity.
“The region’s nascent cybersecurity industry faces a shortage of home-grown capabilities and expertise, fragmented products and solutions and few comprehensive solution providers. Multiple vendor relationships and product deployments are creating operational complexity and increasing vulnerability in some cases,” he said.
A combination of new policy preparedness, an absence of a unifying regional governance framework, a shortage of skilled talent, the underestimation of risk and a lack of adequate investment are among the…
