Home CORPORATE Fear of Cyber Attacks Hinder Mobility, Digitalization and Malaysia’s Economic Growth

Fear of Cyber Attacks Hinder Mobility, Digitalization and Malaysia’s Economic Growth

Fear of Cyber Attacks Hinder Mobility, Digitalization and Malaysia’s Economic Growth
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Image by Gerd Altmann from Pixabay

Malaysia’s thriving digital economy and the recent surge in workforce mobility across the region are exposing businesses to an increasingly ‘perfect storm’ for cyber-attacks, according to the Deloitte Cyber Smart: Enabling APAC businesses report, commissioned by VMware, a leading innovator in enterprise software.

Analyzing cyber exposure, preparedness and economic opportunity across 12 economies in Asia Pacific (APAC), the report found that there is opportunity to grow GDP by US$145 billion for the entire region over the next 10 years if enterprises adopt an intrinsic security approach that ensures business continuity while driving greater adoption of new technologies

“As the digital economy continues to grow in each country, so too does the exposure to cyberattacks. Being appropriately prepared can mitigate the risks to organizations and minimize the potential costs of an attack. Based on what we have seen in the region, businesses with an established cyber security strategy in place have confidence to invest in new technologies which can lead to higher levels of capital investment and productivity growth,” said Duncan Hewett, Senior Vice President and General Manager of Asia Pacific and Japan at VMware.

The VMware-Deloitte Cyber Smart Index 2020 examines the level of cyber risk exposure faced by countries in the region, and the degree of cyber preparedness. Focusing on the inherent exposure to cyberattacks, the Index looks at the size of attack surface, the frequency of attack and value that is at risk. Key findings showed Malaysia is ahead of its peers with similarly low level of exposure due to strong regulatory cooperation and a comprehensive privacy regime despite less impressive relative organizational capability.

“The unprecedented demand for a mobile workforce set against the backdrop of Malaysia’s fast-growing digital economy marks a key turning point for local organizations. In this new paradigm, organizations must make security intrinsic to the enterprise to enable business continuity and success,” said Devan Parinpanayagam, Country Manager, VMware Malaysia. “To this end, VMware is delivering intrinsic security that covers all the critical control points of the modern enterprise, making security more automated, proactive and pervasive. This helps safeguard organizations from threats and disruptions, giving them the confidence to drive their business forward into the digital future.”

By making security intrinsic, organizations will be able to shrink the attack surface, instead of chasing threats, gaining an advantage over potential attackers. This is also in line with VMware’s intrinsic security vision which harnesses VMware technology that resides in the infrastructure stack to deliver security across any app, on any cloud and through any device. With intrinsic security, VMware can reduce the risk to critical applications, sensitive data, and users by shrinking the attack surface across clouds, data centers, end users, and the enterprise edge, allowing organizations to put in place more effective cyber security strategies to support their growth in the region’s fast-expanding digital economy.

For more information about the report, click HERE

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