SINGAPORE has a painted target on its back for hackers because of its position as a financial hub and the leadership role it's taken in IT security, said Eddie Schwartz, head of security for Verizon.

Speaking to BizIT during a visit to Singapore, Mr Schwartz said the country sits at the centre of the Asean states as a banking hub, and has a strong influence on regulatory decisions that are made related to the financial services industry in the region.

"Singapore has a leadership role in establishing standards and the technical mechanisms behind those. For people that want insight into this world, Singapore has a painted target on its back when it comes to having information for groups like hacktivists, or criminals that want to piggyback onto a regulatory scheme, and so on."