How bad is cyber attack?

'In her recent speech regarding Cyber Risk Management Project’s ‘Bashe Report’ Launch on January 29, Elean Chin, division head of Monetary Authority of Singapore, cited that in Asia, cyber-attacks are disproportionately higher compared to other regions....

Earlier reports claimed that the Asia Pacific had the highest number of unfortunate incidents regarding security issues in the first half of 2018.

Nearly 40% of global cybersecurity activities and 30% of breached records were reported worldwide. In terms of financial losses, Asia lost US$1.75 trillion in 2017 or about 7% of the regional GDP caused by cyber attacks.

In a report released by the Cyber Risk Management (CyRiM) project, a well-planned global cyber attack can be initiated through a simple sending of an email that could bring an economic loss between $85 billion and $193 billion. The report was co-authored by Lloyd’s of London, Aon and other CyRiM partners....' Source Channel News Asia

The quantum of damages at US$1.75 trillion lost in Asia alone is staggering. How much was lost from Singapore corporations? None or cannot tell?

These attacks are likely to come from external sources and all the defensive and protective actions and measures are to put up firewalls and mechanism to stop them from getting in. In a way this is like our NSmen, all trained to defend an external threat but oblivious to the Trojan Horse already in the city state in the form of 2 million foreigners with many engaged in top level IT jobs, guarding our IT systems. How precarious is this? No, the stupidity has no cure disease does not see any threat from so many foreigners dominating and in charge of our IT systems.

All it takes is one of these foreigners to turn rogue and a bank can have all its money in the system emptied within minutes, gone into thin air, in the cloud. While so much effort have been spent to block external threat, the most serious threat is from within, the people hired to do the job, to guard and protect our systems and data. with several thousands of them in the job, in the industry, how high is the chance of a few of them attacking our systems and data?

Trust them? Is this the way to continue to go on with so much trust in unknown foreigners in charge of our systems and data? It was Sri Lankan national bank that was hit. Now it is Bangladeshi national bank. When would be the turn of our national bank?

Would not happen?

PS. The Bashe report seeks to put emphasis on the cost and negative effects of any serious cyber attack. The report noted, in case of a major attack that came from Asia, for the next 24 hours, data installed in 30 million electronic devices could be encrypted. In turn, this could impact over 600,000 companies globally or about US$19 billion in financial losses.


Ⓜatilah $ingapura⚠️ said...

@ Future victims of hacking:

If you look at YouTube you will find lots of videos about how to install Kali Linux or BlackArch on computers, tablets and even phones.

The next thing to do is to head on down to Sim Lim Square and pick up a Kali Linux-supported Wifi USB dongle for around 20-30 dollars. Follow the tutorials, and you’ll be able to hack WiFi quite confidently.

If you are feeling rich, you can order a custom built Nexus 5 “Pwn Phone” for around USD1k. Seeing as how you can “earn” very much more than that from online criminal activity, USD1k might be quite a “good investment”. πŸ˜‚

In Singapore, most of us live close to each other. Therefore if you turn on the WiFi just about anywhere, you’ll get 20 or more visible WiFi networks. Except for the Wireless@SG and other free WiFi hotspots (shopping centres), most of them will be locked. You fire up Kali Linux, and then proceed to “attack” other-people’s-Wifi. Sooner or later you will find one with a WEAK password, and Kali will decrypt that key within minutes, at the most. Once you have “pwnd” a WiFi network, you can do almost anything, limited only to what your current skill set is.

Practice, practice, practice
One budding and passionate local young hacker likes to visit JB to “practice” her/ his WiFi hacking skills. Their reason is that the Johorians are so much more slack with their security….and the food is more delicious and cheaper. (hackers like to chow down when they’re doing their thing, since sessions can last for hours, if not days)

Here’s the skinny on why cyber attacks are prevalent in the Asia Pac.

1 There is a “tidak apa” “selekek” attitude in general. It is a CULTURE.

2 Cyber security is EXPENSIVE, and most businesses think it is an unnecessary expense.

3 Most of these motherfuckers don’t give a shit about their customers to begin with, so fat chance they’ll give a shit about their customers’ data, privacy and security. (hack one rich database, and you’ll be able to capture thousands of peoples’ credit cards, PayPals, AliPay etc etc. plus their mobile phone numbers which you can use to PHISH them. (You send a text message with a link. They click the link, they kena MALWARE installed onto their phone. Habis, si liau!)

4 There’s OUTSTANDING growth in networking and connectivity in Asia. Even the “shithole cuntries” now have decent connectivity, as billionaire Asian telco owners all try to to make billions more, so they’ll be taking “shortcuts” and not prioritizing cyber security. Opportunity abound for the young criminal entrepreneur.

5 The Botnet business is a flourishing underground industry. 50,000 bot botnet can be rented for around US 1-2k a week. Owners of huge botnets can make around US 50-100k a week (no shit!). They are able to build such huge botnets from pwnd “zombie” devices (including IoT devices) because motherfuckers will visit dangerous sites (pornorgraphy), play suspicious online games (Flash games are the worst) and download pirated software and games infected with malware, because they are too cheap to pay for the real stuff.

So Asia is a very fertile ground for all budding criminal entrepreneurs. Since it is more LUCRATIVE to be a Blackhat or Greyhat rather than an legally-employed and salaried Whitehat, it is easy to understand why our IT talent might be seeking opportunities in cybercrime rather than working for a STINGY boss in the “legal” world.

Ⓜatilah $ingapura⚠️ said...

The Botnet. Unsurpassed ROI (Return On Investment). No asset class even comes close. you don't even have to be a killer virus writer...there's an "app" for that! 🀣 UP AND RUNNING IN 20 MINUTES! Fuck the CPF, you can make so much more in just a short time! πŸ˜‚πŸ€£ https://www.cyren.com/blog/articles/build-buy-or-lease-the-15-minute-botnet

Oh, shit...there's one thing: IT'S ILLEGAL. When they finally catch you, they will throw you in jail and cut off your balls. 😎 (aka: don't do it!)

Anonymous said...

I've nagging feeling that I've been overcharged nearly $22,000 in my electricity bill.

My monthly electricity bill before GST is average $274. After switching to new electricity plan at 16.8 cents per kilowatt/hour, my monthly electricity bill would come to $191 before GST - a saving of $$83 per month, or $996 per year.

Does that mean I've been overcharged a whopping $21,912 over the last 22 years that I've lived in my present house ??

Anonymous said...

10.54 am, I am afraid that this is not the only charges that you Kena. It's probably 10 times more and that is why now as u are near your retirement, u are practically fucked till your eye ballsπŸ˜€

Ⓜatilah $ingapura⚠️ said...

@ attention War Stocks Guy

DeepMind is an AI developed in the UK and now owned by Alphabet (Google)

It recently beat 2 of the world's best StarCraft players. 5-0, 5-0.

Which means, next level: AI Generals, Field Marshals and Admirals.

Can you imagine? NS men taking battle orders from a computer! 😳 More war stocks!! πŸ€‘πŸ€‘

Anonymous said...


Yeah, over the last 2 years I've been noticing more & more AI/robotics/cybersecurity firms being classified as "defense" stocks i.e. war stocks. The traditional war stocks have also been creating internal depts/divisions specialising in these areas, or have done M&A to acquire specialist players.

These will be the growth areas for the next 20-30 years, not just for war but life in general.

The other growth area I'm heavily weighted into is healthcare: devices, consumables, medical robotics, healthcare insurance, established biotech, established pharma (i'm not a fan of boom or burn bleeding edge trial stage pharmas / biotech).

Also a good dose of stodgy consumer staples for dividend growth as well as ballast during volatile times.

Anonymous said...

1.10pm war stock guy. U must be very rich as u need lots of money to invest into many sectors and companies. We are jealous and wanted to sodomize u leh

Anonymous said...

Ya, if can know this war stock guy, must not give chance. He enjoys taking advantage of other people's suffering. He needs to pay back by being sodomized by hundreds of thousands of African Tua Kee. Nothing less.

Anonymous said...

We seem to be heading towards a dangerous edge. There is now an emerging culture of shamelessness.

Datuk Seri Najib Tun Razak may have been slapped with countless charges of corruption and money laundering, but his campaign, Malu apa, bossku ("Why the shame, Boss?" in Bahasa Malaysia), has surprisingly attracted millions of likes on social media.

Likewise in Singapore, some years back, there was this seemingly innocent yet blatantly shameless phrase being thrown around "What is wrong with collecting more money?"

And in today's Singapore, ministers are quick to shamelessly say, "I am sorry!" Three magic words to absolve all responsibilities and dissolve all blames, so as to shamelessly continue to sit on the golden high chair to collect endlessly more and more bonuses at the end of each and every year!

A new culture has developed: The Culture of Shamelessness! Where got systems failure? Good show! Brilliant! Clap, clap, clap....

Anonymous said...

7.42 pm, the reason they acted that way is because the 70% do not mind and accepted it. After all only minority suffered so why they care about it, Tio bo?

As for the war stock guy, I agreed with the two posters above. He needs to be sodomized by many especially the Middle East and African Tua Kee who have suffered under the war industry. He can laugh about it but I hope when he is laughing, the Tua Kee can shaft his rod into his mouth. Then see he can laugh some more or not?

Ⓜatilah $ingapura⚠️ said...

@ haters and negative spirits,

Eh, the War Stocks Guy clarified lah. He’s more of a TECH investor...something I am interested in myself. some of the sectors he is in has companies with mind-boggling cash flows lah. For e.g. FaceBook and Google have cash flows which exceed the annual GDPs of sovereign nations, and their market caps the envy of every sovereign wealth fund.

All new-tech will eventually find its way to military uses, which is why many tech companies are put into the “defense” sector. The military hands out loads of cash for R&D and are often PARTNERS in developing tech.

As for biomed --- lost of rapid progress there. Insurance companies are using data from smartwatches and fitness trackers to adjust life insurance premiums depending on the insured’s fitness activity, heart rate and other markers. As IoT implantables come online, people will have their biologies measured 24/7 --- blood glucose, oxygen content, insulin sensitivity etc. So yeah, I agree this is an exciting sector --- although there will be lots of failure and bankruptcy --- and FRAUD.