Singapore To Spend $1B On Cyber Security

Singapore will allocate $1 billion over the next three years to improve the Government's cyber and data security, said the Singaporean Finance Minister, Heng Swee Keat, this month.As a small city-state, Singapore is vulnerable to volatilities in its external environment, he said, adding the country’s security remains a high priority in the Budget and must be “funded adequately”.

This is to safeguard citizens' data and critical information infrastructure systems, he said, with data security being a vital prerequisite and key enabler of Singapore's digital economy.

He said that Singapore must be prepared to deal with cyber threats, as digitalisation becomes more pervasive. Its cyber capabilities have been raised significantly, with the setting up of the Cyber Security Agency (CSA) in 2015 and the passing of the Cybersecurity Act in 2018.

CSA is preparing measures for the next level of cyber security as advanced technologies such as artificial intelligence and the Internet of Things are adopted, he added. "All of us, in the Government, enterprises and as individuals, will need to stay vigilant and strengthen our cyber and data security capabilities."

Other than enabling Singapore's digital economy, data security is also key to preserving trust in a digitally connected world, said Mr Heng, who is also Deputy Prime Minister.

The Personal Data Protection Act was enacted in 2012, and the public service has also adopted comprehensive measures to secure and protect citizens' data, he said.  Security was one of three major long-term challenges Mr Heng flagged in his Budget speech, along with climate change and fiscal sustainability.

Despite the many calls on Singapore's Budget in uncertain times, the country's peace, prosperity and stability cannot be taken for granted, he said. "As a small city-state, we are particularly vulnerable to volatility in our external environment...It is imperative that we continue to invest in our external, internal, cyber and data security to keep Singapore and our families safe and secure," Mr. Heng said.

"A strong Singapore Armed Forces supports our diplomatic efforts and ensures that other countries take Singapore seriously. We must be ever ready to defend our interests should negotiations fail...We must continue to ensure a credible deterrence, by maintaining our military and technological edge, in a prudent manner that stretches every defence dollar."

He pointed out that the Personal Data Protection Act had been enacted in 2012, and that the public service had adopted “comprehensive measures” to secure and protect the data of citizens here. The country must continue to enhance its cyber capabilities as it embarks on initiatives to realise its smart nation ambitions, he said.

Apart from startups, small and midsize businesses (SMBs) also would get more support this year via an Enterprise Grow Package, he said. This aimed to help organisations identify business needs, adopt pre-approved digital technologies, and enter new markets, he added. Initiatives targeted for launch under the package included a GoBusiness platform, which Heng described as a single touchpoint for businesses to transact digitally with the government.

Straits Times:      Channel News Asia:     ZDNet

You Might Also Read: 

Cyber Security Does Not Follow From Cyber Awareness:

 


 

« Facebook Scams Offer Fake Money To Steal Personal Data
The New Battlefield »

Perimeter 81

Directory of Suppliers

Clayden Law

Clayden Law

Clayden Law are experts in information technology, data privacy and cybersecurity law.

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

ZenGRC

ZenGRC

ZenGRC - the first, easy-to-use, enterprise-grade information security solution for compliance and risk management - offers businesses efficient control tracking, testing, and enforcement.

Perimeter 81

Perimeter 81

Perimeter 81 is a Zero Trust Network as a Service designed to simplify secure network, cloud and application access for the modern and distributed workforce.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

Cylance Smart Antivirus

Cylance Smart Antivirus

An antivirus that works smarter, not harder, from BlackBerry. Lightweight, non-intrusive protection powered by artificial intelligence. BUY NOW - LIMITED DISCOUNT OFFER.

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

DigitalStakeout

DigitalStakeout

A simple and cost-effective solution to monitor, investigate and analyze data from the web, social media and cyber sources to identify threats and make better security decisions.

FREE eBook: Practical Guide To Optimizing Your Cloud Deployments

FREE eBook: Practical Guide To Optimizing Your Cloud Deployments

AWS Marketplace eBook: Optimizing your cloud deployments to accelerate cloud activities, reduce costs, and improve customer experience.

Cyber Security Supplier Directory

Cyber Security Supplier Directory

Free Access: Cyber Security Supplier Directory listing 5,000+ specialist service providers.

Cyfor

Cyfor

Cyfor provides digital forensics and eDiscovery in civil, criminal, intellectual property, litigation and dispute resolution investigations.

Shadowserver Foundation

Shadowserver Foundation

Shadowserver Foundation aims to improve internet security by raising awareness of compromised servers, malicious attackers and the spread of malware.

Korea Information Security Industry Association (KISIA)

Korea Information Security Industry Association (KISIA)

KISIA is a non-profit organization for the information security industry in Korea.

SKKU Security Lab (seclab)

SKKU Security Lab (seclab)

SKKU Security Lab supports research and education in information security engineering. The lab is a part of the College of Software, Sungkyunkwan University.

Ensign InfoSecurity

Ensign InfoSecurity

Ensign InfoSecurity is Southeast Asia’s largest pure-play cybersecurity firm.

Trusted Connectivity Alliance (TCA)

Trusted Connectivity Alliance (TCA)

Trusted Connectivity Alliance is a global, non-profit industry association which is working to enable a secure connected future.

Saepio Solutions

Saepio Solutions

Saepio promote an all-encompassing approach to cybersecurity, ensuring the appropriate balance of budget and resource across Policy, Product and People.

Noblis

Noblis

Noblis is a dynamic science, technology, and strategy organization dedicated to creating forward-thinking technical and advisory solutions in the public interest.