Cybercrime in Asia: A Changing Regulatory Environment
Asia-Pacific enterprises are expected to spend US$230 billion to deal with cyber security breaches in 2014—the highest for any region—according to a study conducted by International Data Corporation (IDC) and the National University of Singapore. As the extent of commerce transacted over cyberspace continues to grow, along with increasing reliance on information technology to derive cost-efficiencies, the risk exposures to enterprises have increased.
Regulators from several countries in Asia have strengthened existing data privacy and cybercrime laws or created new ones in response to the increasing frequency and severity of cyber-attacks in the region. Companies with single or multinational operations in Asia must keep pace with the changing regulatory landscape, as governments enhance existing laws, create new laws, and step up enforcement, increasing risk exposures for companies who are the subject of a cyber-attack, misuse or mishandle customer data.
Marsh’s report, Cybercrime in Asia: A Changing Regulatory Environment, takes an in-depth look at the changing regulatory landscape across Asia, providing insight to the relevant laws and recent case studies of regulatory action.