KUALA LUMPUR, Feb 6 — Malaysia has emerged as one of the most progressive nations across the Association of Southeast Asian Nations (Asean) in terms of cybersecurity strategy, according to a new research commissioned by Cisco.
The research, conducted by global management consulting firm A.T. Kearney, highlighted Malaysia’s advanced national cybersecurity strategy.
In a statement today, Cisco Malaysia Managing Director, Albert Chai, said Malaysia’s leadership on this front stemmed from initiatives such as the establishment of a national agency to consolidate and coordinate cybersecurity agenda, drafting a cybersecurity bill and a comprehensive plan to develop cybersecurity professionals to meet growing demand.
“Malaysia is in a position to drive a unified cybersecurity agenda in Asean, particularly in the areas of national strategy development, awareness creation and capacity building.
“The cross-border nature of cyberattacks presents an opportunity for the Malaysian government to work together with cybersecurity experts, policymakers, industry players and business decision-makers within the region to fortify Asean’s resilience,” he said.
He said the research report, titled ‘Cybersecurity in Asean: An Urgent Call to Action’, also highlighted that companies across Asean faced a growing risk of cyberattacks, which could expose them to a US$750 billion (RM2.9 trillion) erosion in current market capitalisation.
The heightened risk was attributed to a combination of factors including the emergence of new technologies such as the Internet of Things, nascent policy preparedness, absence of a unifying regional governance framework, shortage of skilled talent, underestimation of risk and lack of adequate investment, he said.
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