Singapore SME Cyber Preparedness Report 2019

Ignorance is Risk

Singapore SME Cyber Preparedness Report 2019

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. 

Key Findings

53% of the cyber incidents suffered in the past 12 months were caused by employees.

The most commonly breached data files were email traffic of the senior team. 

Key concerns after a cyber incident:

  • relationship with customers (55%)
  • revenue and sales (51%)
  • public reputation (49%)
  • cost of the incident (from 46%).  
60% of SME leaders believe insurance has a role to play in protecting against cyber risk, but only 34% of SMEs are currently insured.

Download Report

Fill in the form below to download 'Singapore SME Cyber Preparedness Report 2019' full report.

 

Personal Information Collection Statement

By providing your personal information, you are deemed to have given consent and authorisation to Chubb to collect, use and/or disclose (whether in or outside of Singapore) your personal information supplied to Chubb, to our affiliated companies or third party service providers for the purpose of contacting you by all modes of communication including telephone calls, SMS or Faxes in order to respond to your enquiry.

You can refer to Chubb’s Personal Data Protection Policy for more information.

Please select captcha