Malaysia Digital Corp (MDEC) predicted a loss of RM 51 billion due to cyber security threats in Malaysia, accounting for more than 4% of the nation’s total gross domestic product, saying cyber security plays a role in reducing cyber threats that could threaten the nation’s sovereignty and economy.
In parallel, Kaspersky Security Network for Malaysia reports the number of web threats soared 56% to 28.93 million in the second quarter (2Q21) from 18.53 million in the first quarter (1Q21).
Reports from the local Police say there were 4,327 cybercrime cases reported in 1Q21, totalling RM77 million in losses, compared to 14,229 cases reported last year, bringing in losses totalling RM413 million.
Kaspersky Southeast Asia general manager Yeo Siang Tiong is quoted as saying working from home has the effect of enhancing cybercriminals’ ability to adapt their strategy to take advantage of changes in which many things are fulfilled online, posing new cybersecurity threats.
