Singapore authorities have announced that a total of 1.5 million SingHealth patients’ non-medical personal data have been stolen and of these, 160,000 had their dispensed medicines’ records taken too. While it appears that the Singapore Prime Minister’s information was specifically targeted, the incident illustrates the importance of cyber risk management for every company. We set out six crucial considerations for any company facing a cyber attack.
Singapore’s Cybersecurity Act
Singapore’s Cybersecurity Act which came into force earlier this year aims to protect Critical Information Infrastructure (CII) against cyber attacks. The CII sectors include healthcare as well as energy, water, banking and Finance, transport, infocomm, media, security and emergency services, and Government. It authorises the Cyber Security Agency of Singapore (CSA) to prevent and respond to cybersecurity threats and incidents, empowering the Commissioner of Cybersecurity to investigate as is the case with the SingHealth cyber attack.
Like any other risk, cyber risk can be managed and mitigated with cyber insurance increasingly considered a key aspect of a company’s strategy. The first 48…
