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ESET Survey: More than 50% of SMBs in Hong Kong suffered from cyber breaches

2017-10-10 12:47
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-61% of Hong Kong SMBs suffered from a cyber breach within the past three years

HONG KONG, Oct. 10, 2017 /PRNewswire/ -- ESET, developer of award-winning cybersecurity software, today released data from the ESET 2017 SMBs survey showing that SMBs in Hong Kong were one of the most targeted in the region for cyber breaches.  

61% of Hong Kong SMBs suffered from a cyber breach within the past three years. The cause of these cyber breaches could be attributed to weak encryption methods, given that over half of their cyber breaches were due to the failure of encryption (57%) and two-factor authentication (55%). Hong Kong SMBs may need to boost their encryption methods seeing as over two-thirds (67%) of companies use encryption for data in transit and a large majority (87%) of SMBs are most likely to use encryption for most devices.

"The cost of cyber breaches can be devastating to businesses, especially to small and medium businesses where the impact of just one cybersecurity incident can have the potential to put them out of business," said Parvinder Walia, Sales and Marketing Director for Asia Pacific and Japan, ESET. "With Hong Kong being a hotbed for startups, cybersecurity needs to be prioritised to prevent SMBs from being an easy target for cybercrime."

The latest findings from ESET mirror the data on the overall perceptions and activities around cybersecurity for the region. Businesses in the region appear to be stepping up efforts in the fight against cybercrime given that a majority of businesses, regardless of size or market region, reported utilizing cybersecurity solutions such as antivirus software and firewalls.   

The survey polled 1,500 respondents with 300 respondents from small and medium businesses in each of the following markets: Singapore, Hong Kong, India, Thailand and Japan. The objective of the survey was to get a better understanding of the perceptions and activities related to cybersecurity of small and medium-sized businesses in the region. In particular, it sought to uncover what high-level business executives and IT professionals in APAC thought about issues such as the importance of cybersecurity to business operations, the existing policies and procedures they had in place, as well as their opinions on the need for advanced cybersecurity technology such as 2FA and encryption.

About ESET

For 30 years, ESET® has been developing industry-leading IT security software and services for businesses and consumers worldwide. With solutions ranging from endpoint and mobile security, to encryption and two-factor authentication, ESET's high-performing, easy-to-use products give consumers and businesses the peace of mind to enjoy the full potential of their technology. ESET unobtrusively protects and monitors 24/7, updating defenses in real-time to keep users safe and businesses running without interruption. Evolving threats require an evolving IT security company. Backed by R&D centers worldwide, ESET becomes the first IT security company to earn 100 Virus Bulletin VB100 awards, identifying every single "in-the-wild" malware without interruption since 2003. For more information, visit www.eset.com or follow us on LinkedInFacebook and Twitter.

Source: ESET
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