Survey reveals local companies have lost millions in cyberattacks

SINGAPORE: According to a recent survey conducted by Cloudflare, a leading intelligent cloud service platform, more than 80 per cent of local companies interviewed have fallen victim to cyberattacks over the past year.

The survey findings reveal that the impact of cyberattacks extends beyond financial losses, significantly disrupting business operations. Nearly 40 per cent of the respondents indicated that their companies had implemented measures such as reducing flexible office models, suspending operations, or postponing expansion plans in response to these incidents.

The prevalence of phishing scams and DDoS attacks highlights the increasing sophistication of cybercriminals. Phishing scams involve deceptive tactics aimed at tricking individuals into revealing sensitive information, whereas DDoS attacks overwhelm a company’s online infrastructure, rendering it inaccessible to legitimate users.

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