KUALA LUMPUR: Malaysia’s cybersecurity threats are expected to rise in 2024 based on the country’s ongoing significant cybersecurity concern for individuals and businesses.
Taiwan-based network attached storage (NAS) company Synology Inc noted that Malaysia reported 494,699 leaked accounts, reflecting a troubling trend in digital security breaches.
While predicting exact numbers is challenging, the figures are almost guaranteed to rise in 2024 unless immediate and decisive action is taken.
“I think the message is clear. The time to act is now. Raising cybersecurity awareness, strengthening the resilience of your business infrastructure, and implementing advanced data protection protocols with drills are essential,” Synology sales account manager Jason Sin told The Exchange Asia.
Sin said that while Synology does not have specific statistics on the percentage of data breaches, it is crucial to recognise the profound impact such breaches can have on the overall cybersecurity landscape.
He said the compromise of government data poses significant risks, jeopardising the safety and privacy of citizens and potentially leading to national security threats.
“Again, it is essential to prioritise data protection in the public sector. Implementing measures such as centralising data, utilising on-premise storage solutions, and adhering to high-standard security methods, including WORM (Write-Once-Read-Many) encryption and backup protocols.
“These proactive steps are vital for upholding the security and trust of the public in an era where safeguarding sensitive information is paramount,” he said.
“In the Malaysian business landscape, growing concerns about data scattering, loss, and cybersecurity threats demand vigilance.
“Synology addresses these challenges with a reliable and centralised hybrid storage solution,” Sin noted.
For financial institutions in Malaysia, adopting robust cryptographic controls is imperative to ensure the thorough protection of sensitive data and information.
“While cryptographic controls are not within our primary expertise, Synology has a proven track record of supporting financial institutions globally through our comprehensive data protection solutions.
“In various countries worldwide, including notable banks, Synology has demonstrated its ability to support financial institutions,” Sin said.
He pointed out IdeaBank that entrusted Synology’s Active Backup Suite to safeguard the data of over 2500 users, encompassing Microsoft M365 accounts, including Drive, Mail, SharePoint Sites, Contracts, and Calendar.
Sin said this showcases the versatility and effectiveness of Synology’s solutions in meeting financial institutions’ complex data protection needs on a global scale.
Further, Sin noted that Synology continues collaborating with Malaysian businesses by understanding their unique data protection needs and challenges.
He said that through customised solutions, including NAS systems with scalable security features and comprehensive support, Synology tailors its offerings to meet the specific requirements of the local market, ensuring businesses can protect their data effectively against cyber threats.
“We have a retail customer who recently experienced a cyber attack on their domain, resulting in ransomware encrypting files within their shared folders.
“Fortunately, they had previously created an Immutable Snapshot on their Synology NAS. This allowed them to quickly restore their files, isolating the NAS from their network during the process.
Despite the attack, the Synology DSM operating system remained operational, thanks to the customer’s stringent security policies to prevent unauthorised access. This incident underscores the importance of timely data snapshots as a preventive measure against such unfortunate events,” Sin said further.
“We recommend businesses prioritising regular data backups and leveraging snapshot technology for quick data recovery in the face of cyber threats.
“Additionally, we advocate for the importance of conducting regular recovery drills to test and enhance cybersecurity response capabilities,” said Sin.
He said Synology also emphasises user education on cybersecurity best practices and collaborates with industry experts to stay ahead of emerging threats.
“This comprehensive strategy ensures that businesses using Synology solutions are well-equipped to face the evolving cybersecurity landscape in Malaysia,” Sin said.
