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Singapore to introduce Cybersecurity Act and boost cybersecurity expenditure

As the world moves forward to a more Internet-focused global reality, Singapore is taking measures to protect its government and people from cyber attacks and cyber terrorism. Singapore is enacting a new Cyber Security Act that is to be put in place to ensure sensitive and critical information is fully protected on the Internet.

The New Cyber Security Act
The Cyber Security Act is being made to regulate businesses and individuals that operate CCI’s (critical information infrastructures). With the act, people that possess this kind of information must thoroughly secure their Internet networks and virtual systems.

With the new act, businesses and government agencies will be asked to follow government wide standards and policies. These standards will make sure all CCI facilitators perform risk assessments, audits and reports regarding cybersecurity. the new act will also encourage businesses and agencies to share information regarding cybersecurity and cybercrime.

The Singaporean Minister for Communications and Information, Yaacob Ibrahim, is running the cybersecurity department. He has shared with the public about the Singaporean government using its IT budget to increase all cybersecurity funding and expenditures. Currently, the budget for cybersecurity is 2.4% but in the future, Ibrahim hopes to see an 8% increase.

The New Expenditure
The government itself is is responsible for a large majority of the expenditure that is going towards cybersecurity. The government makes up about 1/4 of the expenditure for cybersecurity, followed by securities, banking, communications, transportation, retail, utilities and more.

With such a high need for effective cyber security, Singaporean officials are realizing the current expenditure is not enough as the county moves forward in the digital age.

Preventing Cybercrime and Cyber Attacks
All of this focus on cybersecurity is in an attempt to thwart future threats of cyberterrorism and cybercrime. As the world gets more technologically savvy, so do criminals. In order to protect the economy and government of countries like Singapore, strong measure have to be taken to handle cyber crime.

As most governments are taking similar measures to boost their cybersecurity, the technology to combat these kind of attacks is becoming more expensive as well as extensive. Individuals can take an interest in cybersecurity, in an effort to understand it and try to protect themselves as well.

On an individual level, citizens can practice their own cybersecurity by being vigilant when using the Internet. When checking emails, be very hesitant to open attachments or click on website links. Clicking on links or opening up attachments from those looking to do harm can open the door to vicious cyberattacks.

In addition to taking caution when opening emails, citizens should avoid sharing public information with anyone on the Internet or social media platforms. With very little information, cyber criminals can find out a lot about a person and can cause real life damage to them. If you do need to share personal information, make sure your internet connection is secure and that your information is somehow encrypted.

Cybersecurity is very important in today’s world. As Singapore moves to enact strong cybersecurity programs through the new Cybersecurity Act, we would all do well to do our best to promote secure Internet use as well.