Parvinder Walia, during his presentation, revealed that 72% of consumers react negatively to news of a company suffering a cyberattack or data breach.
ESET, a cybersecurity software company, conducted a survey to examine consumer online behavior and perspectives on cybersecurity in light of recent data breaches.
The ESET 2018 APAC Consumer Behaviour Survey found that 42% of Singaporeans had experienced some form of data breach in the preceding year. These breaches included theft and misuse of personal information, bank account fraud, social media account compromise, and attacks from malware and viruses.
Virus attacks were the most common at 19%, followed by malware attacks at 15%, and theft and misuse of personal information, also at 15%.
Singaporeans are increasingly using more internet-connected devices and spending more time online. The average Singaporean spends over three hours a day on the internet. They also own at least two connected devices on average, with smart TVs being the most common in Singaporean homes. 64% of those surveyed own a smart TV, alongside other devices like wearables, smart lights, and smart refrigerators.
The survey also revealed a knowledge gap in basic cybersecurity practices. Although a quarter of Singaporean respondents expressed confidence in their understanding of cyberthreats, many were unfamiliar with ransomware, phishing, and Trojan horses. Positively, 71% of Singaporean respondents showed a willingness to learn more about cybersecurity.
However, only 22% said they would verify a website’s security before making a transaction. 40% said they trusted familiar websites, even though such sites are frequently targeted by phishing attempts. This lack of vigilance could be attributed to the perception that familiar sites are safe and the belief that cyberattacks primarily originate from social media (17%) and internet downloads (17%).
Respondents also considered mobile apps relatively safe, despite them being a potential source of vulnerability, with only 7% expressing concerns about mobile app safety.
Source: ESET infographic. Cybersecurity status for Singapore consumers.
Password security remains a significant concern, as nearly half (44%) of respondents admitted to reusing passwords across multiple platforms. Reusing passwords creates a greater risk when the platforms involved store sensitive information such as personal data and credit card details.
42% of Singaporeans use cybersecurity solutions, with firewalls, anti-malware, and anti-spyware being the most sought-after features. However, they are open to adopting additional features that enhance their protection.
“The survey indicates that while Singaporeans possess a general awareness of cybersecurity, more needs to be done considering the constantly evolving threat landscape," stated Parvinder Walia, Sales and Marketing Director for Asia Pacific and Japan at ESET. He emphasized the need for consumers to understand the importance of basic cybersecurity practices and take proactive steps to educate themselves, especially given the amount of time spent online and the frequency of digital transactions.
*The survey involved 1000 participants in Singapore, with 43% male and 57% female. The majority of respondents were between 35-44 years old (27%), followed by those aged 18-24 (20%). The ESET Consumer Behaviour Survey was conducted in Singapore, Malaysia, Indonesia, India, Thailand, Hong Kong, and Taiwan to better understand consumer online behavior and vulnerabilities. It focused on uncovering attitudes towards data protection measures like password strength and antivirus software, in light of the increasing use of internet-connected devices.
**Excluding computers, laptops, and mobile devices.