Friday, 19 April 2024

Cybersecurity Firm Blackpanda and MyRepublic launch cyber incident response solution for SMEs

5 min read

Singapore, 9 February 2023  Singapore-based cyber security firm, Blackpanda, and regional digital telco operator MyRepublic, have teamed up to provide a unique cyber incident response solution, IR-1, to small and medium-sized enterprises (SMEs) in Singapore. Recognising the rise of cyber crimes, MyRepublic, through Blackpanda, is the first telco to champion cyber security by bundling incident response into their traditional telco services, helping SME internet-based customers minimise business disruption from cyber attacks. 

Incident response solutions provide an expert  team trained to identify, assess, and respond to security breaches and cyber attacks. These can range from Web Application Attacks to System Intrusion, Business Email Compromise, Malware or Ransomware. With IR-1, clients have round-the-clock access to digital forensics and incident response (DFIR) specialists in the event of an attack. 

A study by Cisco shows that Asian SMEs are more exposed to cyber security threats than before. One in two (56%) SMEs suffered a cyber incident in the past year, with 75% losing critical customer information to malicious actors.  The Cyber Security Agency of Singapore (CSA) shared that almost 40% of cyber attacks target SMEs, with phishing attempts and ransomware being the most common methods.

“Blackpanda recognises that all businesses – regardless of size – are at risk. The threat is very real, but many businesses remain unprepared, either not knowing what to do, or presuming they will never be hacked,” said Gene Yu, Founder & Group CEO of Blackpanda.

“IR-1 is tailored specifically for SMEs, which are typically limited by technical resources and expertise in managing a cyber crisis. With IR-1’s highly trained teams of DFIR specialists, companies can offload the stress of dealing with cyber attacks and reduce damage to their business operations, financials, and reputation,” continued Gene. 

MyRepublic Head of Enterprise Jonathan Lee, said, “With Blackpanda’s IR-1, MyRepublic aims to address the security and protection of our customers' sensitive information and data, while ensuring compliance with regulatory requirements for data protection and privacy. Running an SME is already a challenge, and these attacks can cripple many businesses.”

“Protecting your company from a cyber attack is crucial. A cyber attack can devastate even the most resilient of businesses, wiping out years of work and compromising long-term consumer trust. By working with a specialist in cyber digital forensics and incident response, MyRepublic’s customers can be assured that their systems, networks, and customer data are protected against cyber threats and attacks,” said Lee.

The onboarding process is seamless. No integrations are required, as IR-1 customers can simply access the dedicated online platform with a unique activation key to register for an account.  Once they have logged in, customers are able to view their subscription details, activate the one-time incident response credit when a cyber attack occurs, and utilise the cyber security posture improvement toolkit including templates, checklists, videos and more. 

A complimentary 12-month subscription to IR-1 is now available to all new MyRepublic Dedicated Internet Access (DIA) clients. Business broadband customers can enjoy the IR-1 solution at an exclusive S$81/month rate.

This partnership is key to creating a sustainable ecosystem of professional firms who understand the need to protect their data, and to give them an avenue where top-of-the-line cyber security comes in a competitive package, giving peace of mind knowing the network is protected.

Re-disseminated by The Asian Banker

 

Diary of Activities
Finance Vietnam 2024
18 July 2024
Finance Thailand 2024
25 July 2024