Cyber threats are escalating - Tan Sri Zulkifeli

15 Aug 2023 09:20pm
Chairman of CyberSecurity Malaysia, Tan Sri Zulkifeli Mohd Zin - FILE PIX
Chairman of CyberSecurity Malaysia, Tan Sri Zulkifeli Mohd Zin - FILE PIX

KUALA LUMPUR - Cyber threats are escalating, says CyberSecurity Malaysia chairman Tan Sri Zulkifeli Mohd Zin.

He added that these attacks not only steal valuable information, but also represent a substantial threat to national security.

“The economic repercussions are enormous, with our country's and the world's economies potentially losing billions.

"The consequences of such losses are absolutely unfathomable, underlining the critical importance of strengthening our cybersecurity defenses,” Zulkifeli added.

He said that these cybercriminals are bold, targeting government entities and stealing sensitive information.

“In December 2020, for instance, we successfully prevented an effort to steal confidential government material through the Malaysian Armed Forces (MAF) website and other defence ministry networks.

“We encountered 4,741 cyber attacks and 456 fraud incidents last year alone, resulting in a loss of RM27 million in January and February alone. These dangers include ransomware attacks, cyber espionage attempts, data leaks, and cyber scams, with online fraud being the predominant issue,” he explained.

Zulkifeli was speaking at the launch of the Cyber DSA 2023, held at the Kuala Lumpur Convention Centre.

To address these challenges, Cyber DSA's main objective is to bring together decision-makers from the government and private sectors, pressing their cyber defense and security agenda ahead.

“We can collectively pave the route to a more secure digital landscape, not just for our country, but also for the global community, by encouraging collaboration and knowledge-sharing.

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“In addition, we must remain cautious and prepared for unanticipated threats that grow in conjunction with technology,” Zulkifeli added.

Zulkifeli also went on to elaborate that the substantial increase in Cybersecurity Malaysia budget in Budget 2023, from RM27 million in 2021 to RM73 million in 2023, will allow the country to improve and acquire new technologies and assets.

“The knowledge and opportunities obtained at Cyber DSA will help us make well-informed decisions to strengthen our cybersecurity defenses.

“As we embark on this incredible journey together, I am filled with optimism and enthusiasm. Let us seize this opportunity to learn from one another, form new alliances, and pave the route for a better and more secure digital future,"

He said that he is confident that Cyber DSA will serve as a catalyst for change, promoting enhanced cyber resilience and enabling people and countries to design a prosperous and secure future