The True Costs of Cybercrime

What Will I Learn?

Overview

Organizations in Singapore have the largest security budgets, but a low incidence of debilitating security events and a low likelihood of security staff turning to cybercrime.

Seventy-eight percent of Singaporean organizations fell victim to at least security one incident during the past 12 months, putting them in the middle of the five nations we surveyed. However, organizations in Singapore had average security budgets that were 85 percent higher than the global average, although 2018 budget growth will be less than half of the global average growth in 2018. Because “major” security incidents that would cause significant disruption to an organization’s operations are not common in Singapore, and because Singaporean security professionals are among the least likely to participate in cybercriminal activity – so-called “Gray Hats” – total annual security costs for Singaporean organizations are modestly higher than the global average, but well below total security costs in the United States.

Presenters