In this week's TechNave Business Bytes Week 1 May 2024 we cover cybersecurity, technology advancements, business opportunities, and consumer trends. Kaspersky highlights the importance of strong passwords, while Sailpoint emphasizes robust identity security for businesses. Innovation is evident in partnerships like Lenovo and Austral Techsmith for smart cities and Luno offering new cryptocurrencies. Smart Malaysia seeks passionate individuals for EV promotion, and insureKU aims to revolutionize insurance with its digital platform. The EY survey reveals Malaysians' confidence in their energy future, but a gap exists between perception and action. Palo Alto Networks Unit 42 also found that manufacturing was the worst hit by ransomware in ASEAN and Malaysia.
Kaspersky: 32 Million attacks thwarted on World Password Day
Passwords are crucial but vulnerable to cyberattacks, necessitating proactive measures for safeguarding personal information. Weak passwords attract scammers, leading to data breaches. Kaspersky experts advise using the 'association method' to create strong, memorable passwords.
Emoji-passwords offer a non-standard and secure option resistant to brute-force attacks. Avoid common passwords and use a mix of letters, numbers, and symbols. Employ unique passwords for each account to minimize damage in case of a breach. Password managers can aid in remembering complex passwords.
DNB and Ericsson to help businesses go digital using Malaysia's 5G network
DNB and Ericsson announced a program to accelerate enterprises' digitalization in Malaysia using the country's world-class 5G network. MoUs were signed with eMooVit Technology, Scania, and SKF Malaysia, with Intel as the technology partner. These collaborations aim to develop 5G solutions for autonomous transport, fleet management, and smart manufacturing.
The high speed and low latency of 5G enable efficient communication between machines, leading to improved productivity and efficiency in industries. Malaysia's 5G network is ranked among the top five globally, providing a competitive advantage for businesses and attracting foreign investors.
Grab Malaysia's Cabaran Ramadan-UmrahGrab campaign offered fully-paid Umrah package as a prize.
Grab Malaysia's Cabaran Ramadan-UmrahGrab contest recently concluded with almost 539,000 participants vying for an all-expense paid Umrah package. The prize-giving ceremony saw 10 lucky winners, including delivery-partner Muhammad Faizal and consumer Farah Nabilah, receive the package for themselves and a loved one.
Muhammad Faizal shared his touching story of wanting to visit his late father's grave in Mecca with his wife, while Farah Nabilah expressed her gratitude towards her selfless mother and planned to gift her the trip for her upcoming birthday. The contest was part of Grab Malaysia's larger Ramadan campaign, Kebaikan Dalam Setiap Pesanan, which aimed to celebrate the holy month with its consumers and driver- and delivery-partners. Grab Malaysia also continued its fundraising efforts for various NGOs during Ramadan.
Lenovo partners for Austral Techsmith, Paving the Way for Smart Cities in Malaysia
Lenovo and Austral Techsmith recently announced their collaboration to enhance 5G smart pole technology in Malaysia. Lenovo's ThinkEdge AI-powered solution will be integrated into Austral Techsmith's 5G smart poles, providing advanced video analytics capabilities for smart cities. The ThinkEdge SE50, powered by Intel® Core™ i7 vPro® processor, offers state-of-the-art features and data processing performance for AI video analytics.
This technology enables real-time traffic management, reducing congestion and accidents, and enhances safety measures by detecting dangerous situations and aiding in prompt intervention. Lenovo's Device-as-a-Service (DaaS) option allows organizations to lease ThinkEdge, making cutting-edge technology more accessible and cost-effective. This partnership aims to transform Malaysia's urban landscape by creating smarter and safer cities through the power of AI video analytics.
Luno launches ATOM and DOT
Luno, recently introduced Cosmos (ATOM) and Polkadot (DOT) to its platform, expanding its offerings to 13 coins. Cosmos aims to provide a scalable and interconnected ecosystem for decentralized applications, while Polkadot operates on a unique multi-chain architecture, allowing developers to create customized blockchains.
Luno's country manager for Malaysia, Scarlett Chai, expressed excitement about being the first regulated DAX to offer ATOM and DOT in the country, enabling Malaysians to diversify their portfolios safely. Luno follows a rigorous screening process based on technical, regulatory, and legal criteria before adding new coins and emphasizes responsible investing through its educational portal, Luno Discover.
Sailpoint: World Password Day 2024
With cyberattacks increasing, password vulnerability has become more pronounced. Passwordless solutions like biometrics and authenticator apps offer alternatives, but organizations must recognize that these alone do not guarantee security. Weaknesses in business systems lacking least privileged access controls can be exploited, leading to costly consequences such as ransomware attacks and data breaches.
Integrating passwordless authentication with a robust identity security framework is crucial, enabling organizations to manage access levels and detect unauthorized attempts. As organizations are set to manage more identities in the future, a unified, integrated identity security approach provides full visibility and early detection of irregular activities.
Kaspersky: More than 2 critical cyber incidents per day in 2023
In 2023, Kaspersky's MDR team reported a high frequency of severe incidents with human involvement, affecting various industries including finance, IT, government, and industrial sectors. The annual MDR Analyst Report analyzes detected incidents, their nature, distribution, and attacker tactics. Human-driven incidents accounted for nearly 25%, while "cyber exercises" previously classified as targeted attacks comprised just over 20%.
Malware attacks with serious consequences slightly decreased, attributed to the "commoditization of attacks" and the repurposing of previously developed tools. Targeted attack artifacts, critical vulnerabilities, and social engineering incidents remained around 4-5%. Check their site for more details.
smart Malaysia Leads the Charge in EV Education and Career Development
Smart Malaysia, a frontrunner in promoting EV adoption and sustainable mobility, seeks passionate individuals to join its Elite Sales Specialist Program. The program aims to cultivate EV technology ambassadors and advocates for sustainable transportation solutions. Smart Malaysia emphasizes empowering team members with expertise in EV technology through personalized training and development programs.
Investing in team members' growth is crucial to driving positive change in the automotive industry. With EVs being relatively new in Malaysia, smart Malaysia offers a platform for individuals to immerse themselves in EV adoption, technology, and ecosystem development. Competitive packages and comprehensive benefits make it a rewarding career opportunity, with a minimum basic income ranging from RM5,000 to RM10,000.
EY: Malaysians are confident about their energy future, but aren't doing anything about it
According to the recent EY Energy Consumer Confidence Index survey, Malaysia ranks third. Malaysian respondents believe they are doing their part for sustainable energy usage but expect more from energy providers. The survey found that 81% of Malaysian energy consumers believe they are doing as much as they can to be sustainable, and 85% say that the responsibility of managing sustainable energy use lies with the energy providers.
Despite confidence in their energy future, many said the energy system isn't delivering on affordability, access, and appeal. Energy companies risk losing consumer faith in the "three As" of energy: affordability, access, and appeal. Consumers want a clean energy future but need support to make personal energy choices. Check out their site for more details.
insureKU by Censof Maal gets Bank Negara Malaysia approval
insureKU, Malaysia's first end-to-end digital insurance and takaful aggregation platform, is set to revolutionize the insurance industry by making policies more accessible, affordable, and easier to understand for consumers. Led by insurance veteran Shadhana Sekaran, insureKU offers a comprehensive range of life, general, and takaful insurance products, empowering individuals to take charge of their financial journey.
Backed by Bank Negara Malaysia's approval, insureKU leverages technology to simplify the insurance process and provide expert guidance, addressing the complexities and lack of expertise often associated with insurance decisions. Check out their site for more details.
Palo Alto Networks Unit 42: Manufacturing the worst hit by ransomware in ASEAN and Malaysia
Palo Alto Networks Unit 42's Ransomware Retrospective and Incident Response report 2024 recently revealed a 49% increase in multi-extortion ransomware attacks globally from 2022 to 2023. The manufacturing sector was the most targeted industry for ransomware extortion in ASEAN and Malaysia, with Lockbit 3.0 being the most active group. Malaysia's rapid adoption of IT and AI has led to significant cybersecurity challenges, including a skills gap in cybersecurity professionals and regulatory hurdles.
Unit 42's analysis of over 600 incidents showed a decline in phishing as an initial access method, with a rise in the exploitation of software and API vulnerabilities. Threat actors are now grabbing data indiscriminately rather than searching for specific data, and the rate of harassment in cases where payments were made has jumped by 27x since 2021. Check out their site for more details.
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