RM2.75 Billion Losses Due To Cyber Crime In Five Years

KUCHING (Sarawak, Malaysia), March 29 (Bernama) -- The country recorded RM2.75 billion (US$900 million) in losses due to cyber crime in the past five years, particularly in the financial sector, CyberSecurity Malaysia's business development head Mohd Anwer Mohamed Yusoff said. He said the losses also assessed in several sectors and products such as intellectual properties and copyright infringements over the Internet. "The cyber security awareness among organisations and individuals in the country is still low. Admittedly, the more developed we are in terms of the cyber world, the higher the risk of cyber crimes," he told reporters here. He earlier witnessed the signing of a memorandum of understanding between HeiTech Managed Services Sdn Bhd and RAMA Resources Corporation Sdn Bhd to organise the Business Continuity Management (BCM) and Information Security Management System (ISMS) forum. Mohd Anwer said the government through its related ministries and agencies had been taking measures to raise awareness on cyber security. Meanwhile, a Sirim Berhad officer Haliza Ibrahim said so far only 60 agencies and companies in Malaysia which had obtained the Sirim-recognised ISMS. She called on the public and private sectors to be more sensitive to the need to increase cyber security at all level of organisations, not just the top level. -- BERNAMA