1 in 3 Singapore organisations lost up to $1.348m from data breaches

More than half of the attacks were credential hijackings.

About 33% of Singapore organisations suffered up to $1.348m ($US 1m) in both direct and indirect damages as they record breaches to their data, DNS security and management firm, Infoblox, said.

In its report, titled, 2022 Singapore State of Security Report, attackers of Singapore organisations likely stole credentials and swiped data to gain illegal entry and alter information.

Amongst the top attackers were credential hacking, with 59%, and data exfiltration with 54%.

Organisations fell victim to sensitive data exposure with 57%, system outages with 53%, and other malware infections with 43%.

Also, the study found out that Singaporeans are still vulnerable to phishing scams, which are responsible for 68% of security breaches in Singapore in the past 12 months.

Infoblox’s research involved a poll of 100 participants from small, mid-sized, and large organisations in Singapore, with 21% from financial services, 29% from manufacturing, 13% from retail, and 10% from business and professional services. The survey was conducted by the Business Intelligence Unit of CyberRisk Alliance, underwritten by Infoblox.

$1 = $US 0.72