Prime Minister Lee launches Singapore’s Cybersecurity Strategy

October 10, 2016

Prime Minister Lee Hsien Loong today launched Singapore’s Cybersecurity Strategy at the opening of the inaugural Singapore International Cyber Week (SICW). The Strategy outlines how Singapore will continue to strengthen the resilience of the country’s cybersecurity.

2016 marks the 25th anniversary of GovernmentWare, which was started in 1991 to raise awareness of IT security threats amongst public officers with just 50 participants. SICW builds on Government Ware which has grown over the years and today there are more than 3,000 participants from over 30 countries. The event also reflects the importance of cybersecurity issues not only to Singapore, but regionally and internationally too.

PM Lee mentioned that while ICT brings about opportunities, it also makes Singapore vulnerable – globally, cyber threats and attacks are becoming more frequent and sophisticated, with more severe consequences. For instance this year, thieves siphoned US$81 million from the Bangladesh Bank, the central bank, in a sophisticated cyberheist.

Back home, Singapore’s government networks are regularly probed and attacked while the financial sector has also suffered DDOS attacks and leaks of data. Individuals have been targetted with fake websites masquerading as SPF, MOM, ICA, CPF pages, hosted in other countries, phishing for personal information or scamming people into sending money.

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