Automated robot attacks rose by 146% in 2022, emphasizing the urgent need for stronger cybersecurity measures.
SINGAPORE: A report by local data analysis firm LexisNexis has revealed a dramatic surge in cyberattacks in Singapore, with 32 million incidents recorded last year. This spike is closely tied to the rapid increase in digital transactions, creating opportunities for cybercriminals to exploit network vulnerabilities.
The report highlighted a 20% global rise in online fraud from 2021 to 2022, driven by economic recovery and increased digital activity following COVID-19 lockdowns. Singapore, however, experienced levels of cyber threats that far exceeded the Asia-Pacific average, particularly in e-commerce transaction volumes, human fraud, and automated robot attacks.
Among the report’s findings, the 146% year-on-year increase in automated robot attacks stands out, marking a rise approximately five times higher than the global average. Cybercriminals also doubled their use of manual fraud methods, employing tactics such as fake account creation, account compromise, and account hijacking.
Experts attribute these sophisticated attacks to vulnerabilities created by the rapid expansion of digital transactions. They warn that as Singapore continues its push toward digitalization, it faces escalating risks to individuals, businesses, and critical infrastructure.
The findings underscore the urgent need for enhanced cybersecurity strategies to counteract the evolving tactics of cybercriminals and safeguard Singapore’s digital ecosystem.
