Cybersecurity Seminar by Singtel and Law Society – 7 October 2016

The topic might have been a little too heavy right after lunch but for an ignorant-not-IT-savvy person like me, it was insightful. Our affiliate Lim Seng Siew of OTP Law Corporation was the moderator for the session.

Free is Not Always Good

Did you know that using ‘Free Wifi’lss_cybersecurityseminar20161007 in cafes could risk being exposed to “e-robbery”?

These days, busy professionals are racing with time to meet work demands. They want to log onto wifi as quickly as possible any and everywhere just to stay connected.

Open wifi networks are generally unencrypted and you do not need a password to join the network. Once connected, the hacker could already have access to every detail you’re sending out from your device — business emails, credit card information and even security credentials like your One-Time Password or your SingPass.

Ever incurred dubious transactions on your credit card? Now you know why.

US Hospital Kidnapped by Hackers

Ransomware, like other malware, exploits weak spots to infect a company’s system. Among many victims was the Hollywood Presbyterian Medical Center in Los Angeles where hackers shut down the internal computer system for a ransom of 9,000 bitcoin (amounting to almost USD$3.7 million).

And that was not the worst yet. According to the FBI’s Internet Crime Complaint Center, the CryptoWall, cost victims USD$18 million! Among the “rectification works” were network mitigation, network countermeasures, loss of productivity, legal fees, IT services and the purchase of credit monitoring services for employees or customers.

At the very least, businesses are advised to back up their data so hard drives can be wiped and restored to their previous states.

Article by Melissa Ng
PracticeForte Pte Ltd