Why cybersecurity is important for businesses in Singapore — Privacy Ninja

Why cybersecurity is important: it elevates your system against cyberattacks

  • An outdated IT infrastructure which had vulnerabilities when the incident happened
  • An outdated webserver service on which the e-commerce platform was running
  • An unpatched firewall

What is cybersecurity?

Why cybersecurity is important: it cultivates customer trust

  • communicate data breaches
  • appoint a Data Protection Officer
  • obtain user consent to handle information
  • anonymize data for privacy
  • notify individuals impacted as soon as feasible
  • notify the authorities as soon as possible

What is the impact of Cybercrime?

  • For Vhive, a financial penalty of $22,000 was imposed as a result of the breach
  • For Lovebonito, the financial penalty was slightly higher at $24,000

How to protect your organization against Cybercrime

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