Rise in data breaches in Singapore

It was recently reported that the number of data breach alerts received by Singapore’s data protection watchdog had tripled during the February-March period.

Indeed, the Personal Data Protection Commission (PDPC) stated that the firms targeted were mostly in the finance, retail, and manufacturing sectors. Security experts have then found out that the data compromised included a number of personal information such as names, e-mail addresses, financial details, and postal addresses.

Moreover, they reported that the data could be used to take over victims’ online accounts and spread malware or transfer money. This important increase of the past two months is attributed to the new data breach notification requirement as well as the rise in cybersecurity threats.

A recent report from Risk Based Security also revealed that it recorded at least three data breaches in the first quarter for Singapore, which is a third of nine cases it logged for Singapore for the whole of last year.

Hence, organizations in Singapore are now obligated to report breaches that could lead to dangerous outcomes, such as financial or physical harm, or if it affects the data of more than 500 people.