Singtel has launched the Cyber Elevate Programme, a holistic one-stop training and cyber incident management programme, aimed at improving the cyber security resilience of small and medium enterprises (SMEs), at the Singtel Cyber Security Institute (CSI).
The Programme, the first-of-its-kind in Singapore, is specifically designed to equip SMEs with the necessary capabilities and skillsets to prepare, detect, respond, and recover from cyber attacks at affordable rates.
It includes an audit of a company’s cyber risk profile, mentorship workshops on the best cyber security practices and legal and forensics support by key partners who will render vital assistance to the SMEs in the event of a cyber attack. This ensures that SMEs are able to identify and protect their digital assets before an attack and receive critical counsel and guidance on how to swiftly resolve the operational issues, communicate with authorities and customers after an attack as well as implement recovery measures to resume operations. More details can be found in Annex A.
Businesses can take up the Programme at subsidised rates of up to 90% because Singtel CSI is part of the SkillsFuture Queen Bee network. Appointed by SkillsFuture Singapore, the SkillsFuture Queen Bee is an industry leader with strong sectoral expertise, network, industry standing and ability to champion skills development in other companies, especially the SMEs. SSG supports the Singtel CSI in its efforts to develop cyber security skills and talent, and refine processes to build cyber resilience among businesses, in particular SMEs.
“If large organisations are grappling with the challenge of cyber risks, think about what the average SME is going through. Due to resource limitations or a lack of know-how, SMEs may not have the right defences, making them far more vulnerable to cyber attacks. Dealing with a cyber incident can be an incredibly overwhelming and expensive exercise involving complex processes, multiple stakeholders and business disruption. That’s why we’ve designed this Programme with the SME in mind, so they can be armed with the fundamentals of how to respond and recover when attacked. As a home-grown leading technology company, we want to do our part to support our SMEs and the eco-system so they can succeed in a digital economy,” said Ng Tian Chong, CEO Singtel Singapore.
According to the Cyber Security Agency of Singapore, almost 40% of cyber attacks in Singapore target SMEs, with phishing and ransomware being the most common methods of attack. The agency’s Singapore Cyber Landscape 2022 report highlighted that SMEs in the manufacturing and retail sectors were particularly vulnerable, as they held valuable data and intellectual property that cyber criminals seek to extort for financial gain. Despite this, SMEs hold the misconception that they will not be victims of cyber attacks, with one in four not having any processes or policies to protect themselves.
Gene Yu, Founder & CEO, Blackpanda said, “Our partnership with Singtel accelerates our mission to democratise cyber resilience for SMEs in Asia with its unmatched distribution and reach in the country. At Blackpanda, we’re committed to empowering businesses with risk management scans alongside swift emergency response services during cyber attacks. In times of crisis, we stand as the trusted local first responders that SMEs can rely on, much like calling the SCDF during a fire, so they know what to do when they have been hacked and never left to fend off cyber criminals alone.”
Rakesh Kirpalani, Director of Dispute Resolution & IT and Chief Technology Officer of Drew & Napier, said, “SMEs are the backbone of the Singapore economy. Cyber resilience for SMEs in the form of appropriate legal and technological frameworks are thus critical given the significant increase in cyber attacks and data breaches. The DrewTech team from Drew & Napier stands at the forefront of legal risk management in all areas where legal and technological issues collide, including cyber attacks. We help SMEs adopt necessary legal frameworks to avoid cyber attacks, while preparing them to mitigate risks from these attacks.”
To further support SMEs in their cyber preparedness journey, Singtel will be offering a complimentary one-year cloud backup service, concurrently with this Programme, so their critical data remains protected in the event of a cyber attack.