Cybercriminals zeroing in on Singapore banks

Singapore

BANKS in Singapore are increasingly being targeted by cybercriminals, experts said, given the growing sophistication of the dark web that has developed into a bustling marketplace for malware, complete with money-back guarantees.

While other financial centres - and certainly non-financial corporations - are also at risk, Singapore stands out as a significant number of banking customers read Chinese, and that, according to IBM, has made it more vulnerable to the rising Chinese-language hacks on the dark web.