Palo Alto Networks Survey Reveals Thai Organizations’ Confidence in Cyber Security Measures
In a recent survey conducted by Palo Alto Networks, Thai organizations have shown a significant increase in their confidence in cyber security measures. The survey found that there has been a more than 50% rise in highly damaging cyber attacks among Thai organizations, accounting for approximately 22% of all organizations that are confident in addressing cyber security issues. However, this ratio is considered to be the lowest in the ASEAN region.
According to the survey results, the top cyber security concerns among Thai organizations include the heightened risk posed by insecure Internet of Things (IoT) devices, with 54% of respondents expressing worry about this issue. Additionally, 47% of organizations stated that they had to purchase multiple cyber security solutions, while the same percentage expressed concerns about conducting digital transactions with third parties.
Moreover, the survey found that 43% of Thai organizations are adapting their cyber security strategies to support IoT/OT protection. The survey, conducted online in April 2023, involved 500 corporate IT decision makers and business leaders in Southeast Asia’s top industries, including services, government/public sector/basic services, telecom/technology/communications, retail/hotel/F&B services, transport and logistics, and the manufacturing sector. Each country, including Singapore, Malaysia, Indonesia, the Philippines, and Thailand, had 100 respondents.
Dr. Tatchapon Posayanon, Country Director for Thailand and Indochina at Palo Alto Networks, stated that the increased confidence in security measures indicates that businesses are adopting a more flexible approach to dealing with sophisticated cyber attacks. He added that Thailand has experienced the lowest number of “highly disruptive attacks” (22%) among the surveyed countries. However, the country’s cyber security budget increase is also relatively low compared to other nations.
Dr. Posayanon emphasized that while organizations in Thailand have been preparing for many years and are now seeing positive outcomes from their investments in cyber security, it remains a top priority for executives. He highlighted the need to address the continuously evolving techniques used by cyber criminals, stating that the landscape has become even more complex.
Thailand’s Efforts to Defend Operational Technology (OT)
The Palo Alto Networks Cybersecurity Situation Report 2023 for ASEAN revealed that Thailand faced challenges in protecting its operational technology (OT) systems, especially those connected to critical infrastructure. The report highlighted that the number of “highly disruptive attacks” in Thailand was the lowest among the surveyed countries, with 22% of organizations experiencing a more than 50% increase in incidents compared to the previous year.
The survey identified the types of attacks that concern Thai organizations the most, including malware, user account hijacking, and password attacks. Furthermore, businesses in Thailand expressed their main cyber security challenges, such as the increased risk from insecure IoT devices, the need to purchase multiple cyber security solutions, and conducting digital transactions with third parties.
However, the survey also revealed that Thailand is relatively well-positioned compared to other ASEAN countries in terms of dealing with cyber security risks and enhancing skills in this area. Only 37% of organizations in Thailand considered cyber threats to be high or very high, which is the lowest ratio in ASEAN. Despite the increase in malicious attacks experienced by Thai organizations, only 22% of them reported confidence in addressing cyber security issues.
ASEAN’s General Confidence in Cyber Security
The survey also highlighted the confidence levels in cyber security measures across various industries in ASEAN. The services sector, including banking, finance, transport, and logistics, showed higher levels of confidence compared to other industries.
At the national level, Thailand demonstrated relatively high confidence, with 87% of organizations believing that current cyber security measures are sufficient to protect against threats. Moreover, Thailand obtained a leading score in terms of basic cyber security skills, with over 78% of businesses providing formal training to their employees.
Cyber security remains a top priority for Thai businesses, with 38% of organizations reporting monthly discussions on the subject among their boards of directors. Additionally, 49% of Thai businesses have increased their cyber security budgets to enhance their operations, comply with new regulations, digitize processes, and address the changing threat landscape.
The top three cyber security strategies in Thailand include securing IoT/OT systems, overhauling threat detection systems and behavior detection platforms, implementing identity and access management, and adopting coordinated response strategies and security automation systems for Security Operation Centers (SOCs).
Preparation for the Future with AI Integration
The survey revealed that more than half of Southeast Asian organizations (53%) are considering adopting artificial intelligence (AI) as a core technology to mitigate cyber risks. In Thailand, the interest is even higher, with 56% of telecom/technology/communication businesses preparing to implement AI. This technology is expected to have significant growth in the region in the coming years.
Dr. Tatchapon emphasized the expanding nature of cyber attacks alongside digital transformation. He highlighted the pressure faced by industries like banking and finance to accelerate their digital transformation efforts, which increases competition and the need for robust IT system structures. These structures are crucial for businesses to effectively address various security vulnerabilities.
Four Interesting Facts about Southeast Asia and Thailand
The survey offered four interesting insights about Southeast Asia and Thailand. Firstly, Thai organizations identified three major cyber security challenges: unmonitored and unprotected IoT devices, the need for various cyber security solutions, and the increasing number of digital transactions with third parties.
Secondly, a majority of Thai organizations with OT systems (92%) reported utilizing a combination of cyber security teams for their IT and OT systems. Additionally, while most businesses in Thailand have a 5G strategy in place, they have concerns regarding data protection and application-level functionality.
Thirdly, the survey found that approximately 80% of ASEAN organizations discuss cyber security in their quarterly board meetings, with similar trends observed in Thailand. Moreover, 66% of organizations in Southeast Asia plan to increase their cyber security budgets by 2023, compared to only 49% in Thailand. Furthermore, 29% of organizations in Southeast Asia reported a budget increase of more than half compared to the 2022 budget.
Lastly, over half (53%) of Southeast Asian organizations are considering adopting AI to mitigate cyber risks. The survey also identified the four key cyber security strategies in Thailand, including IoT/OT protection, overhauling threat detection systems, identity and access management, and implementing coordinated response strategies and security automation systems for SOC.
In conclusion, the Palo Alto Networks survey highlights the increased confidence among Thai organizations in their cyber security measures. While challenges persist, Thailand is relatively well-positioned in terms of cyber security compared to other ASEAN countries. However, businesses must remain vigilant and adapt to evolving cyber threats as they continue to prioritize and invest in cyber security.
***
Palo Alto Networks reveals survey results of Thai organizations showing increased confidence in cyber security measures. They found that Thai organizations have seen an increase of more than 50% in the number of highly damaging attacks, accounting for around 22% of all organizations that are confident in pursuing cyber security issues. This is considered to be the lowest ratio in ASEAN.
Top cybersecurity issues among Thai organizations include increased risk from insecure IoT devices (54%), having to purchase multiple cybersecurity solutions (47%), and Conducting digital transactions with third parties (47%)
Additionally, 43% of Thai organizations are adapting their cyber security strategies to support IoT/OT protection. This was done online in April 2023 with a total of 500 corporate IT decision makers and business leaders. The five main industries in Southeast Asia are Services (Banking, Finance), Government/Public Sector/Basic Services, Telecom/Technology/Communications, Retail/Hotel/F&B Services, Transport and Logistics. and the manufacturing sector There were 100 respondents per country, including Singapore, Malaysia, Indonesia, the Philippines, and Thailand.
Dr said. Tatchapon Posayanon, Country Director for Thailand and Indochina, Palo Alto Networks, for the survey that confidence in security measures shows that Businesses are taking a more flexible approach to dealing with more sophisticated cyber attacks, with Thailand experiencing the lowest number of “highly disruptive attacks” (22%), but increasing its cyber security budget is also the least compared to other countries.
“This is because there are various organizations In Thailand, we have been preparing for many years and are seeing the results of our investments in this area, but cyber security remains a top priority for executives. Because cyber criminals also continue to adapt and use various techniques. It’s even more complicated.”
*** Thailand moves to defend OT
Palo Alto Networks said in its Cybersecurity Situation Report 2023 in ASEAN that Thailand encountered problems last year. The number of “highly disruptive attacks” is the lowest, with 22% of organizations experiencing an increase of more than 50% in incidents compared to the past Protect operational technology (OT), especially systems connected to infrastructure Fundamentals remain the main concern. Because those critical basic services face higher levels of harmful attacks than other sectors.
The types of attacks that organizations in Thailand are most concerned about include malware (57%), user account hijacking (57%), and password attacks (53%) and more cloud applications Businesses in Thailand said that The main issue facing cyber security systems is Increased risk from unsecured IoT devices (54%), need to purchase multiple cyber security solutions (47%) and digital transactions with third parties (47%)
However, compared to other countries In ASEAN it was found that Thailand is in a relatively good position in terms of dealing with cyber security risks and upgrading skills in this area. Only 37% of organizations rate cyber threats as high or very high. and is considered the lowest ratio in ASEAN. Although organizations in Thailand have seen an increase of more than 50% in the number of malicious attacks, only 22% of all organizations are confident in tracking cyber security issues. This is considered to be the lowest ratio in ASEAN.
*** ASEAN is confident
In the ASEAN countries various industries Have confidence in security measures But this is evident in the services sector. (banking and finance) as well as transport and logistics.
As for the national level Thailand is considered to have relatively high confidence, at 87%, that current cyber security measures will protect against threats. Thailand also has a leading score in basic cyber security skills. More than 78% of businesses have received formal training on this issue for their employees.
Cyber security remains a top priority for businesses in Thailand. Just like last year, about 38% of Thai organizations reported that their boards of directors discuss cyber security every month. In addition, 49% of Thai businesses have increased their cybersecurity budgets because they want to improve operations (54%), and new regulations have been issued or modified in line with data privacy laws (44%) as more of processes being digitized (37%) and as the threat landscape changes (37%)
The top three cyber security strategies in Thailand include: Securing IoT/OT (43%), overhauling threat detection systems and related behavior detection systems/platforms (40%), identity and access management (38%), and coordination strategies Security Response and Automation (SOAR) for SOC (38% )
Integration with AI is a technology that businesses are getting Prepare to install soon in Southeast Asia and Thailand (56%) from telecom / technology / communication businesses Most interest in applying AI in the region and expected for it to grow faster in the next few years.
“The problem of cyber attacks continues to expand along with digital transformation. And this can be seen very clearly in some industries, such as the banking and financial sectors. which has been under pressure to accelerate digital transformation and high levels of competition Therefore, there are various organizations in Thailand, especially in the banking and financial sectors Therefore, it is necessary to create an IT system structure. strong so that businesses are prepared to deal with various security vulnerabilities,” added Dr Tatchapon.
*** 4 interesting facts about Southeast Asia and Thailand
The first is an overview of the industry. The survey found that organizations in Thailand face three main cyber security challenges: unmonitored and unprotected IoT devices (54%), which require the purchase of cyber security solutions; various formats (47%) on the increasing number of digital transactions with third parties (47%) %)
In addition, the majority of organizations in Thailand with OT systems (92%) say they use a combination of cyber security teams for their IT and OT systems. Most businesses say they have a 5G strategy in place, but they are concerned about 5G data protection and application level functionality
The second information is cyber security risks. More than half (52%) of organizations in Southeast Asia say they face cyber security threats that pose a high level of risk. Especially in the service sector (Banking and Finance) Important basic services and the manufacturing sector Meanwhile, 37% of Thai organizations (the lowest ratio in ASEAN) consider cyber threats either high or high ok In Thailand, incidents were detected in The number of “highly disruptive attacks” is the lowest in ASEAN (22%), and malware is a key concern for organizations. in South East Asia and Thailand, accounting for around 60% and 57%, respectively.
The third information is considerations at an operational and budget level in terms of cyber security systems. They found that about 80% of ASEAN organizations said that cyber security is discussed in quarterly board meetings. Organizations in Thailand are similar at 79%, and 66% of organizations in Southeast Asia will increase their cyber security budgets by 2023, while only 49% in Thailand have done the same. Meanwhile, 29% of organizations in Southeast Asia said they The budget has been increased by more than half compared to the 2022 budget.
Data number 4 is the security position. More than half (53%) of Southeast Asian organizations are considering adopting AI as a core technology to reduce cyber risk. The survey also found four key cyber security strategies in: Thailand: IoT/OT protection (43%), detection overhaul threats and related behavior detection systems/platforms (40%), identity and access management (38%), and coordinated response strategies, and security automation systems (SOAR) for SOC (38%).
#Hot #Issues #Survey #results #Palo #Alto #Networks #reveal #Thai #organizations #confident #cyber #security
