In his article, “Singapore Unites to Keep Cyber Threats at Bay,” Sol E. Solomon mentioned the bright future of IT security professionals in Singapore. Cyber threats can be as devastating to a country as physical security risks. This recognition prompted Singapore to initiate a joint participation, enlisting the government, enterprises and individuals to enhance the nation's information security competencies and resilience against cyber attacks. Since April 2008, Singapore launched a $46 million Infocom Security Masterplan 2 (MP2), which the local government has worked closely with the private sector and individuals to combat cyber threats. The MP2 initiative also included Association of Information Security Professionals (AISP) – the aim of raising the standing, professionalism, and trust of IT security professionals in the country.
Imperva Asia-Pacific & Japan is a computer and networking security firm that focuses on businesses’ data security throughout all parts of Asia, including Singapore. Stree Naidu, Vice President of Imperva Asia-Pacific & Japan, praised the Singaporean government for their efforts in building awareness in cyber security, "[We] have noted a rising trend of increased cyber security awareness among businesses, especially over the last year. During uncertain economic times, reputations of companies are at stake. Any involvement in legal suits and loss of customer confidence could quicken a company’s demise. Hence, companies are adopting a cautious approach and re-looking security risks."
Nowadays, database is one of the most valuable assets for businesses, and many firms acknowledge the importance of database implantation. Database speed, storage capacity, and security are few of the important attributes to consider prior to business purchase. However, many are willing to compromise on security in exchange for the other factors. Such problematic behaviors are the outcome of shortsighted-business firms. Database speed and storage are generally prioritized because of their direct relationship with a firm’s profitability (higher access speed can increase productivity; increase in storage capacity can cut down the expense for purchasing multiple storage systems). Although security systems are important, the ability tends to be viewed as an additional cost. A well-structured security system can be extremely costly due to the size of the database. As a result, the majority of firms invested little in the cyber security featuring. In other words, most firms in the world have insufficient or no security systems. Consequently, these firms became the targets of cyber criminals, and the common targets for cyber criminals are private customer information such as credit card numbers and social security code.
In reality, minor security breaches are rarely detected due to the poor precautions. Therefore, incidences are normally serious when they are found. These incidences will negatively impact a firm, as the recent Target security breach has shown (December 2013) – Most customers are extremely sensitive about their private information. Due to public concerns, data security has become an inevitable influential factor in business’ prosperity. However, as companies take on a proactive approach to adopt fundamental cyber security measures, threats such as spams, botnet attacks, and hackers are evolving strategically day by day. Therefore, it is crucial for companies to further educate their employees and train them to manage such threats appropriately. Though security systems may be costly, but the consequence of not having a functional security system will lead firms to a greater loss. On a larger scale, the ability to defend against cyber threats will determine a countries’ overall strength. In the long run, cyber security systems will prove its importance to firms’ or countries’ success and sustainability.
Solomon, Sol E. "S'pore Unites to Keep Cyber Threats at Bay." ZDNet. ZDNet, 03 Mar. 2009. Web. 05 Apr. 2014. <http://www.zdnet.com/spore-unites-to-keep-cyber-threats-at-bay-2062051758/>.