Bolstering Cybersecurity Capabilities across Asia Pacific
Asia and the Pacific consist of the largest group of internet users. In 2021, Indonesia, Malaysia, the Philippines, Singapore, Vietnam, and Thailand recorded 40 million new internet users. Eight in 10 of these new users engaged in online purchases. Naturally, more businesses in these regions are going online to unlock new economic opportunities. Even micro, small, and medium enterprises (MSMEs), budding entrepreneurs, social enterprises, and nongovernmental organizations (NGOs) are venturing into online platforms to operate successfully. Eighty percent of MSMEs in Indonesia, Malaysia, the Philippines, Singapore, Vietnam, and Thailand consider online platforms vital for their success. In fact, one in five of these MSMEs already rely on online platforms to reach potential customers while providing offline services (Online-to-Offline service platforms). While the region is witnessing a rapid digitalization of businesses, it is also facing the highest number of cyber-attacks worldwide -- 31% of global cyberattacks. Here, small businesses are more vulnerable as they lack the technology know-how and have limited access to proper protection against cyber-attacks. Seventy-five percent of small businesses in this region report growing concerns about cybersecurity.
