CYBERSECURITY | Blackpanda Highlights Cybersecurity Gaps in Asian SMEs

Blackpanda, the premier digital forensics and cybersecurity firm in Asia, unveiled a critical report on cybersecurity vulnerabilities facing Small and Medium Enterprises (SMEs) across the Asia Pacific. This first-of-its-kind study by the firm leverages its advanced external attack surface management (ASM) scan to pinpoint major security risks that need urgent resolution to prevent potential cyberattacks.

The findings underscore the prevalence of three alarming vulnerabilities that pose significant threats to regional security. Compromised email assets emerged as the most critical, accounting for over 71% of high-risk categories and showcasing a glaring vulnerability to information leakage and phishing. Another major concern is exposed web services, which constitute nearly 70% of the issues, making companies susceptible to disruptive web-based attacks that could jeopardize customer data. Additionally, known software vulnerabilities, while considered at a medium-risk level, still represent nearly 60% of security threats, emphasizing the need for immediate action to avert data breaches and subsequent financial and reputational damage.

Gene Yu, CEO of Blackpanda Group, stressed the critical nature of these findings, drawing parallels between cyber vulnerabilities and an unlocked door that invites burglars. “The majority of cyber incidents stem from fundamental, unpatched vulnerabilities,” Yu said. “Our report doesn’t just highlight problems; it provides a clear roadmap for the industry to strengthen defenses.”

In response to these vulnerabilities, Blackpanda has upgraded its flagship solution, IR-1, which is a comprehensive SaaS platform designed for SMEs in Asia. The upgraded IR-1 integrates robust incident response, continuous vulnerability assessments, and streamlined access to cyber insurance, making it a holistic cybersecurity solution.

The platform’s standout feature is its 24/7 fixed-cost incident response service, ensuring businesses have immediate access to expert support in the wake of a cyber incident, crucial for minimizing downtime and mitigating damage swiftly. Moreover, IR-1’s continuous vulnerability scanning capability is key in proactively detecting potential breaches, significantly enhancing a company’s security posture.

Evelyn Del Monte, Managing Director for Blackpanda Philippines, highlighted the urgency of robust cybersecurity measures, especially in the Philippines where severe vulnerabilities frequently compromise critical business operations. “Our tailored incident response capabilities are designed to confront these challenges directly, safeguarding businesses against the increasing sophistication of cyber threats,” Del Monte explained.

This comprehensive study not only maps out current vulnerabilities but also offers tailored recommendations for businesses to enhance their security architectures. By implementing these strategies, companies and national agencies can significantly mitigate the risk of cyber attacks, protecting their data and operations.

Blackpanda’s initiative to bolster cyber resilience in the region reflects its commitment to security and continuous improvement, with more advanced solutions expected to roll out later this year. Through partnerships with local firms like Exclusive Networks and iSecure Network, Blackpanda is poised to extend its reach and efficacy, fortifying the digital landscapes of businesses across Asia.