PETALING JAYA: Lack of investment in cybersecurity leaves Malaysia vulnerable, according to Grant Thornton Malaysia country CEO Kishan Jasani.
He said insufficient cybersecurity investment in Malaysia, the third most breached country globally, poses risks to the public and the private sectors.
“Be aware. Plan. Take stock of what needs to be done. Execute. Have the actions in place. Implement them. For the government to actually have that confidence, to have that trust, to be able to assure the rest of the country, ‘Hey, it’s okay. We’ve got this’,” he said in an interview with SunBiz.
Kishan suggested collaboration between government and industry stakeholders to address vulnerabilities in Malaysia’s digital landscape effectively.
The call for urgent action comes as Malaysia grapples with increasingly sophisticated cyber threats ranging from data breaches to ransomware attacks.
“Other Asean countries are thinking very seriously because they know how secure these systems have to be,” said Kishan.
Recent incidents, including data breaches in government agencies such as the Central Database Hub (Padu) and financial institutions such as Maybank and CIMB, highlight the need for the measures, he added.
Wthout adequate investment and strategic planning, Kishan said, Malaysia risks economic and reputational damage from cyber incidents.
“Cybersecurity is a hot topic nowadays. The pretext of it is Padu. With our data going online, and the government is pushing for digitalisation. Also as part of the MSC status. So, cybersecurity is coming on trend,” he said.
Furthermore, Kishan highlighted the importance of education and awareness on cybersecurity for the public.
“From a personal level, it’s common sense. Keep things in a normal place, download from a reputable app store, don’t open suspicious links, don’t pick up random calls. Education is free,” he said. However, while people may possess knowledge about cybersecurity best practices, there is often a failure to put that knowledge into action effectively, he added.
