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Serba Dinamik’s ESPC welcomes the new cybersecurity law

SHAH ALAM, 13 OCTOBER 2021Serba Dinamik Group Berhad under the E-Security and Privacy Channel (ESPC) Cybersecurity Division fully supported the government initiative to implement the new cybersecurity law.

The Group Managing Director and Chief Executive Officer Serba Dinamik Holdings Berhad, explained that this move comes timely as the country is on the fast track to becoming a fully digitized nation.

He also mentioned by introducing this specific law to address cybersecurity will help to keepMalaysia equally competitive and an attractive for cybersecurity businesses and other opportunities.

“Through the introduction of this cybersecurity law, I hope we can build a resilient digitalinfrastructure; create a safer cyberspace environment; develop a vibrant cybersecurity ecosystem and strengthen international partnerships,” he said.

Dato Karim welcomes the government move to introduce this law to make Malaysia one of the safest places in the world for consumers to use smart technology.

He also said that Malaysia has strong enforcement and effective cybersecurity law ensuring people toget effective redress when they purchase devices, services and solutions that fail to meet security standards and leave them exposed to data breaches and scams.

“I am positive that these new law legislation on cybersecurity will tackle outstanding issues plaguing businesses and citizens and will present itself as a crucial step as there are a vast array of connected devices with security flaws, many of which are currently on the market, that put citizens at risk from cyber criminals,” he added.

Serba Dinamik under ESPC, a cyber security news portal in Asian region had taken the heat by engaging with 30 world and local speakers for individuals to benefit from learning how to be safe and responsible online during the two-day conference themed as Cybersecurity Asia 2021 which was held recently.

Based on the statistics provided by Forbes that every minute, $2,900,000 is lost to cybercrime and top companies pay $25 per minute.

It is noted that by the end of 2021, cybercrime is expected to cost the world $6 trillion and the projected figure will increase to $10.5 trillion by 2025.

Dato Karim said these numbers and data are scary since cyber-attacks can cripple businesses and nation state.

If governments do not have a robust cybersecurity governance, then the nation and its people are open to risks of cyber-attacks. In fact, all it takes is social engineering to gain access to human vulnerabilities, which could lead to security breaches”, he said.

Dato Karim was commenting on the recent statement by the Minister in the Prime Minister’s Department (Special Functions) Datuk Dr Abdul Latiff Ahmad that the government is in the process of preparing recommendations related to new cybersecurity law.