A survey from Palo Alto Networks stresses an imperative need for ASEAN SMEs to update their security capabilities in the face of highly evolving challenges .

ATTACKERS ARE

CONSTANTLY EVOLVING AND MANY SMES SEE SECURITY AS A POINT-IN-TIME

INITIATIVE .

ONSTRAINED

CYBERSECURITY BUDGETS and relatively weaker inhouse cybersecurity talent are identified as urgent issues for ASEAN [ Association of Southeast Asian Nations ] SMEs faced with a highly evolving regional cybersecurity threat .

The issue is identified in the Palo Alto Networks 2023 State of Cybersecurity ASEAN report .

“ Attackers are constantly evolving and many SMEs see security as a point-in-time initiative – they are not updating their security capabilities to keep up with attackers ,” said Steven Scheurmann , Regional Vice President for ASEAN , Palo Alto Networks .

“ In many parts of ASEAN , SMEs form the backbone of our economies . It is imperative for them to update their security capabilities and an actionable incident response plan is the first step towards redefining their security strategy along with a greater emphasis on automation of existing cybersecurity processes to foster resilience and confidence .”

The survey received responses from 500 business representatives across Singapore , Malaysia , Indonesia , the Philippines and Thailand assessing their perspectives on the cybersecurity challenges and future strategies .

Overall , SMEs felt relatively less confident in coping with the cybersecurity challenges due to constrained cybersecurity budgets and relatively weaker in-house cybersecurity talent .

“ The confidence in their security measures indicates that businesses have and are continuing to build resilience against evolving cyberattacks ,” said Scheurmann .

“ However , the survey urges confidence to be coupled with caution . Taking a proactive approach to cybersecurity is the need of the hour which will need an all-hands-ondeck initiative with active participation from everyone within the organisation .”

Increasing digital transactions with third parties ( 51 %), risks from unmonitored IoT devices ( 47 %) and risks posed by personal devices and home networks accessing the corporate network ( 47 %) were cited as the top three challenges facing cybersecurity practitioners .

Key findings from the report include :

Industry :

• ASEAN organisations face three main cybersecurity challenges : Unmonitored IoT devices and unsecured IoT devices ( 60 %); personal devices and home networks accessing the corporate network ( 47 %) and an increase in digital transactions with third parties ( 47 %)

• Most organisations with OT ( 82 %) also admitted to having a common cybersecurity team that look after their IT and OT infrastructure and systems

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