Phishing attempts on Singapore targets rose 175% to 8,500, with banking sector most spoofed in 2022 | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware

SINGAPORE: The Cyber Security Agency of Singapore (CSA) received about 8,500 reports of phishing attempts last year, an increase of 175 per cent from the 3,100 attempts reported in 2021.

The increase mirrors global trends, according to CSA, which published the data in its Singapore Cyber Landscape 2022 report on Friday (Jun 23).

The heightened cyber threat environment in 2022 was fuelled by geopolitical conflict and “cybercriminal opportunism” as COVID-19 restrictions eased, said Mr David Koh, Singapore’s first Commissioner of Cybersecurity and CSA’s chief executive.

The agency pointed out that the Russia-Ukraine conflict brought about financial pressures and a rise in the cost of living, and that economic adversity creates opportunities that threat actors can exploit through phishing.

“They capitalise on psychological weaknesses as potential victims are more inclined to explore opportunities to make up for personal financial shortfalls,” said CSA. Organisations may also scrutinise their budgets and cut cybersecurity budgets, seen as non-essential expenditure.

“Emerging technologies, like Chatbots, are double-edged, as with many new technologies. While we should be optimistic about the opportunities it brings, we have to manage its accompanying risks,” added Mr Koh.

“The government will continue to step up our efforts to protect our cyberspace, but we need businesses and individuals to play their part too, so that we can fully reap the benefits of our digital future.”


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National Cyber Security