Malaysia Seeks to Improve Cybersecurity and Prevent Economic Losses

Sep 2022

Malaysia continues to prioritize cybersecurity as it works to improve its standing as a regional leader in the digital economy. According to Datuk Abdul Halim Abdul Rahman, deputy secretary-general (Security) of the Home Ministry, Malaysia registered almost 20,000 cybercrime incidents in 2021 with losses totaling MYR 560 million (USD 122 million).

Cyberbullying, falsification, hacking, phishing, and email scams were among the examples that were reported in Malaysia and were on the rise each year. In 2019, there were 13,000 incidences of cybercrime with damages of MYR 539 million. Halim emphasized the significance of good cybersecurity as Malaysia moves towards the fourth industrial revolution (IR4.0), which is entirely dependent on digital technology. By 2025, Malaysia’s digital economy is projected to generate roughly 22.6% of the national Gross domestic product (GDP).

Halim has also introduced the National-Level Key Targets, which are applications with essential output or services that, if lost or damaged, might harm the nation’s economy and defense, as well as its reputation and governmental operations. He added that it is necessary to identify the risks that can harm the main targets and the economic sector. Henceforth, owners or occupants of the primary targets should constantly concentrate on keeping information from leaking, especially from inside the facilities.

(Sources: The Sun Daily; The Malaysian Reserve, The Vibes)

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