The government's financial burden is expected to increase this year. If the Economic Transformation Programme (ETP) and plans to stimulate domestic demand fail to bring the intended results, we will have to face a greater risk compared to other Asian countries. The top three action points for the country would be to have the flexibility to immediately adjust the economic strategy to cope with unexpected turn of events; to reduce commitments; and to aggressively boost the development of higher value-added activities in manufacturing, expansion of the service sector, and development of key industries such as biotechnology, Islamic finance, communications technology and tourism.
Security: new and sophisticated cyber threats
Lt Col (R) Prof Dato' Husin bin Jazri, chief executive officer of CyberSecurity Malaysia (national agency under Malaysian Ministry of Science, Technology & Innovation):
So far, the global economic crisis has shown no sign of remission, however, past experience has shown that cyber security will still be considered an important investment. IT security professionals will continue to be an important asset to businesses and demand for cyber security will continue to grow due to increasing cyber threats and attacks.
According to market research firm RNCOS, the global IT information security market is anticipated to grow up to 15.5 percent in 2012. In Malaysia, we believe the market for cyber security will be close to RM1 billion by the end of this year. For cyber security vendors, this would be a good time to create more collaboration and partnerships to create greater synergy and serve their clients better. For businesses, this would be a good time to seek avenues for more knowledge sharing and learning experience.
In 2012, we expect the country to depend more on the use of ICT for greater productivity, efficiency and well being. Government departments, businesses and society at large are expected to increase the use of innovative strategic technologies such as cloud computing, 'the Internet of things' and mobile centric applications. This will demand greater security strategies due to the increasing threat by those who are now taking advantage of online social networking for illegal pursuits and of those who are now determined to disrupt the innovative digital economy of nations.
Government, industry and private users need to be more aware of the need for safer and smarter use of the internet as well as keep up to date with the latest software updates and security measures.
Anuj Singh, director, Global Response Centre, IMPACT (International Multilateral Partnership Against Cyber Threats backed by the United Nations and the International Telecommunication Union):
The year 2012 will feature new and increasingly sophisticated kinds of cyber threats and attacks ranging from capturing and exploiting user data to escalating battles over the control of online information that threatens to compromise content and erode public trust and privacy. On the regional or global scale specific threats will follow over the coming year which includes, among others we will see an increase in:
- Search Poisoning: where attackers will increasingly use techniques to optimise malicious links among search results, so that users are more likely to click on a URL because it ranks highly on Google or other search engines.
- Mobile Web-based Attacks: attacks aimed specifically against mobile Web browsers.
- Stolen user data use for marketing: the market for stolen user data will continue to evolve as botnets capture user information shared by social media platforms and sell it directly to legitimate business channels for lead-generation and marketing.
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