In an era of perpetual digital connectivity, the Asia-Pacific (APAC) region has witnessed a surge in cyber security breaches, highlighting the vulnerability of various businesses. Despite the widespread chaos inflicted by these malevolent cyber actors, an intriguing narrative unfolds – that of APAC brands surmounting adversity and showcasing resilience to rebound from severe cyber attacks.
This landscape is marked by the uncomfortable reality of cyber security breaches, leading to grave consequences such as substantial fines and irrevocable damage to reputation. However, triumph emerges when businesses exhibit an adept response, irrespective of the magnitude of the crisis.
Cathay Pacific, the Hong Kong-based airline, faced a momentous breach in October 2018, where hackers infiltrated sensitive passenger information. Cathay Pacific’s swift response involved reinforcing data governance, network security, access control, employee education, and incident response. In the aftermath, they cooperated with authorities and committed to continually investing in evolving IT security systems. While the UK Information Commissioner’s Office imposed a fine in 2020, Cathay Pacific upheld its dedication to protecting personal data.
Thailand’s True Corp confronted a data leak affecting 11,400 customers in 2018. The company’s rapid reaction saw the swift rectification of the vulnerability and extensive efforts to inform affected customers. True Corp’s cyber expert, Kittipong Thiraruengchaisri, emphasized the organization’s commitment to bolstering data security. This commitment reflects True Corp’s resolve to ensure secure online experiences for customers amid the escalating cyber threat landscape.
Singapore Telecommunications (Singtel) encountered a dual cyber attack in 2022, targeting its Australian subsidiary Optus. Singtel’s CEO, Yuen Kuan Moon, swiftly allocated substantial resources to manage the aftermath. The company’s comprehensive approach included an external review, credit monitoring services, and enhancing identification documents. Moon expressed commitment to cooperation with governmental bodies to improve cyber awareness, underlining Singtel’s dedication to collective cyber resilience.
Medibank, a private health insurer in Australia, confronted a significant breach compromising data of nearly 10 million customers in 2022. Medibank chose to safeguard its customers rather than comply with hackers’ ransom demands. The company fortified its technical perimeter, launched a cyber response support program, and collaborated with Deloitte for an external review. Despite hackers releasing data on the dark web, Medibank’s commitment to customers and cyber security boosted investor confidence.
NIC Asia Bank, headquartered in Kathmandu, Nepal, fell victim to a cyber attack in 2017 involving fraudulent money transfers through the SWIFT messaging service. Promptly reacting to the suspicious transactions, the bank notified Nepal Rastra Bank, which facilitated recovery of a significant portion of the financial loss. The bank’s proactive approach extended to engaging KPMG India for a comprehensive digital forensic review.
In conclusion, the APAC region’s resilience in the face of relentless cyber threats is evident through the responses of these brands. Their actions not only fortify their security measures but also contribute to the broader discourse on cyber awareness and preparedness. While the challenges are substantial, these success stories offer a glimmer of hope in the evolving landscape of cyber security.
