The second annual Chubb SME Cyber Preparedness Report - ‘Ignorance is Risk’, revealed that Small and Medium enterprises (SMEs) in Singapore remain unprepared to deal with potential consequences of cyber risks, despite the rising threats. Nearly two-thirds (65%) of SMEs reported experiencing a cyber incident in the past 12 months. Worryingly, more than half (54%) of the incidents were caused by a risk SME leaders had already identified, thus showing a clear gap between perceived and actual preparedness.
The report also examined the common types of cyber breaches, concerns among SMEs post-breach, as well as the incident response plans.
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