Credential stuffing has the potential to wipe out bank accounts and steal identities – and Southeast Asia is one of the biggest culprits.A sophisticated strike where hackers use specialised software to launch multiple automatic attempts to log into a website or app using stolen usernames and passwords, the term “credential stuffing” is widely credited to Sumit Agarwal, the co-founder of cybersecurity firm Shape Security who coined it when serving as the United States’ Deputy Assistant Secreta

Ransomware is making its way back as one of the biggest threats to cybersecurity.A malicious software (malware) hidden in links, attachments or websites, ransomware locks computers through encryption and then demands money to restore access.While information technology (IT) experts speculated that ransomware cases would increase last year after dominating cyberspace discussions in 2017 with high-profile worldwide outbreaks such as WannaCrypt and Petya, these fears failed to materialise.Source

While ASEAN is increasingly coordinating its efforts to reinforce regional cybersecurity, more needs to be done to address the constantly evolving threats.Data fraud/theft and cyberattacks were the fourth and fifth biggest threats facing the world according to the nearly 1,000 decision-makers surveyed by the World Economic Forum (WEF) in this year’s Global Risks Report, and it is clear that stakeholders in the public and private sector as well as academia and civil society should intensify ef