Sad to say that SMEs in Malaysia are similarly not ready.
In a report on the preparedness of companies in Hong Kong with less than 250 employees, the insurer said:- Hong Kong’s small- and medium-sized enterprises are not ready to face cybersecurity threats, and only a third of them are insured against an attack
About 3/4 of local SMEs, or about 258,000, fell victim to cyberattacks in the past 12 months
One third (1/3) of SMEs reviewed their security protection but took no future action after a cyber incident
Only 11% made any attempt to recover breached data files
Half of the 300 surveyed SME leaders said their employees did not recognise the severity of cyber risks to the business. They acknowledged their employees don’t know the responsibilities, and employees with access to sensitive data don’t know their rights
In Hong Kong, over 98% of business units are SMEs, which altogether hire 1.3 million people, nearly half of the workforce excluding the civil service sector.