Palo Alto Networks (NASDAQ: PANW), a global cybersecurity leader, today released the 2023 ASEAN State of Cybersecurity Report. The report finds that large enterprises in ASEAN face increasing security risks from unsecured IoT devices, and new risks from increased reliance on the cloud have been identified. did. -Based services. OT cybersecurity continues to be a top concern in the region, as 82% of organizations implementing operational technology have a common cybersecurity team that manages IT and OT infrastructure and systems. Masu.
The survey asked 500 business representatives from Singapore, Malaysia, Indonesia, the Philippines and Thailand about their 2022 cybersecurity challenges and their outlook on future strategies.
The risk to cyber threats is high, with 52% of organizations feeling at high risk from cybersecurity threats, but 90% of organizations across ASEAN remain confident in the security measures they employ. I am. However, SMEs felt relatively less confident in addressing cybersecurity challenges due to constrained cybersecurity budgets and relatively weak in-house cybersecurity talent. Today, digital transactions with third parties are increasing (51%), risks posed by unmonitored IoT devices (47%), and risks posed by personal devices and home networks accessing corporate networks (47%). It has been cited as one of the top three challenges facing cybersecurity professionals. The good news is that more than 80% of all companies say cybersecurity is discussed at board level every quarter and is top of the agenda for most boards. As a result, 66% of all organizations increased their budget allocated to cybersecurity in 2023. Additionally, 29% of all organizations reported that their 2023 budgets increased by more than 50% compared to 2022. This is a very positive trend with an increase across organizations. The region will build resilience against cybersecurity threats.
This confidence is reflected across the region’s industrial sectors, but particularly in the services (banking and finance), transport and logistics sectors.
“Confidence in one’s security posture shows that a company has established and continues to build resilience against evolving cyberattacks. Confidence comes with caution, however. Be proactive about cybersecurity. This approach is the need of the hour and requires an all-hands-on-deck effort with the active participation of everyone in the organization,” said Stephen Schulman, Regional Vice President, ASEAN, Palo Alto Networks.
Key findings from the report include:
industry:
- The ASEAN organization faces three major cybersecurity challenges:
- Unmonitored and unsecured IoT devices (60%)
- Personal devices and home networks accessing corporate networks (47%)
- Increase in digital transactions with third parties (47%)
- Most organizations (82%) that have implemented OT also acknowledge that they have a common cybersecurity team that manages their IT and OT infrastructure and systems.
- Although most companies claim to be committed to a 5G strategy, they are concerned about the security of the 5G data and application layers.
Cybersecurity risks:
- An astonishing 95% of organizations say cybersecurity incidents are on the rise and destructive attacks are on the rise.
- More than half (52%) of organizations in ASEAN feel they are at high risk from cybersecurity threats, especially those in the services (banking and finance), essential services, and manufacturing sectors.
- Malware is a top concern for 60% of organizations.
Board discussion and cybersecurity budget:
- More than 80% of all ASEAN organizations say cybersecurity is discussed at board level on a quarterly basis.
- 66% will increase their cybersecurity budget in 2023
- 29% report an increase in their 2022 budget by more than half
Security outlook:
- More than half (53%) of ASEAN organizations are considering implementing AI integration as a top technology to reduce cyber risks.
- Three major cybersecurity strategies being considered:
- Implement cloud security (44%)
- Identity and access management (40%)
- Securing IoT/OT (40%).
- Endpoint protection and SASE strategies are another area of focus for organizations.
AI integration is the top technology that businesses will soon be implementing. Telco, technology and telecoms are the most interested in AI adoption across the region and are expected to grow at a faster pace in the coming years. Malaysia and Singapore are showing high interest in implementing big data/data lake applications as customers expect cybersecurity companies to leverage AI to better serve them.
“Adversaries are constantly evolving, and many small and medium-sized businesses view security as an in-the-moment endeavor and do not update their security capabilities to keep up with attackers. In many regions of ASEAN, , small and medium-sized businesses form the backbone of the economy. Updating your security capabilities is essential for businesses, and a viable incident response plan is the first step in redefining your security strategy, ensuring resilience and reliability. “We will focus more on automating existing cybersecurity processes to increase security.” Closed Stephen.