Busting myths that discourage SMEs from securing themselves

WHEN it comes to IT security, the largest stories that make the headlines tend to be of larger multinational corporations, or very well-established organisations. However, that doesn't mean that small and medium-sized enterprises (SMEs) aren't falling victim to security breaches.

A recent survey by Chubb and YouGov found that 56 per cent of Singapore SMEs have experienced a cyber attack or error in the past 12 months. With SMEs responsible for about half of Singapore's GDP, this is a worrying trend, especially when more SMEs are being encouraged to take up digitalisation efforts.

The Infocomm Media Development Authority, for example, is actively assisting and encouraging SMEs in taking up digital solutions with its SMEs Go Digital initiative since it was announced in the 2017 budget.