Regional digital telco operator MyRepublic and Singapore-based cybersecurity firm, Blackpanda, have teamed up to provide a unique cyber incident response solution for small and medium-sized enterprises (SMEs) in Singapore.
First telco to offer incident response
Recognising the rise of cybercrimes, MyRepublic is the first telco to champion cybersecurity by bundling incident response into its traditional telco services, helping SME internet-based customers minimise business disruption from cyberattacks.
Incident response solutions provide an expert team trained to identify, assess, and respond to security breaches and cyberattacks. These can range from Web Application Attacks to System Intrusion, Business Email Compromise, Malware or Ransomware. With the IR-1 offering, clients have round-the-clock access to digital forensics and incident response (DFIR) specialists in the event of an attack.
More cybersecurity threats than ever before
A study by Cisco shows that Asian SMEs are more exposed to cybersecurity 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 cyberattacks target SMEs, with phishing attempts and ransomware being the most common methods.
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.
MyRepublic Head of Enterprise, Jonathan Lee said, “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 cyberattack is crucial. A cyberattack 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.
Simplicity the key
The onboarding process is seamless. No integrations are required, as 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 cyberattack occurs, and utilise the cybersecurity posture improvement toolkit, including templates, checklists, videos and more.
This type of 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 cybersecurity comes in a competitive package, giving peace of mind knowing the network is protected.
It seems logical for telcos to offer such a solution to their customers considering that all cyberattacks occur via a network connection.