Deloitte launches its Cyber Security Operations Centre (CyberSOC) in Malaysia

Kuala Lumpur, 9 September 2015 – Deloitte Malaysia today launched its Cyber Security Operations Centre (CyberSOC). The CyberSOC provides best-of-breed and solutions in the face of increasing cyber threats and provide advanced security event monitoring, threat analytics, cyber threat management as well as incident response for businesses in the region.

“With cyber threats increasing in number of attacks as well as sophistication, businesses have to now prepare for intangible threats from cyberspace. The traditional notion of physical damage to one’s business is not the only hazard to keep an eye on. Hackers can now target intangible assets such as intellectual property that could lead to loss of the competitive advantage due to stolen intellectual property,” said Dr Janson Yap, Deloitte Asia Pacific’s Enterprise Risk Services leader.

Deloitte’s CyberSOC adopts three important value systems – being secure, vigilant and resilient.

“Our three core pillars of cybersecurity intend to be as holistic as possible by identifying and protecting against external threats, whilst educating an organisation’s people to be aware of cyber threats and finally how to prepare for, respond to, and recover from cyber incidents,” said Yap.

The security centre works with Deloitte member firms around the world to provide around the clock protection across all time zones. In addition to bolstering cyber security, Deloitte’s SOC also offer cyber war gaming, an advanced preparedness technique that simulate a potential cyber attack – allowing organisations to evaluate their cyber incident response preparedness and identify cyber incident response capability gaps.

The number of detected cyber attacks increased in 2014, according to security software vendor Kaspersky’s Labs. 94 percent of the global companies surveyed by Kaspersky had some type of cybersecurity incident in 2014 compared to 91 percent in 2013. Meanwhile, 12 percent of the surveyed experienced a targeted attack. Kaspersky’s Labs estimates an average data security incident can cost a company up to $720,000 (estimated RM3.11 million) in 2014.

Cyber attacks can stem from the individual to state-sponsored attacks. One of the most high-profile attacks in 2014, was the alleged cyber attack on Sony Pictures over the movie “The Interview”. The attack revealed sensitive information and ultimately halted the movie’s release in theatres.

“Cyber attacks are asymmetrical risks where a small, highly skilled group of individuals can cause disproportionate damage to an organisation. The Sony cyber threat incident is indicative of the kind of reputational and financial risks that companies can be exposed to,” said Cheryl Khor, Enterprise Risk Services Leader for Deloitte Malaysia.

“As more Malaysian businesses evolve into adopting e-commerce platforms, we are confident that Deloitte’s CyberSOC centre is well positioned to address and mitigate any cyber threats that may pervade digital businesses,” added Khor.

The Malaysian division of CyberSOC will be part of the Southeast Asia’s SOC centres, headquartered in Singapore.

Also present at the launch were Tan Theng Hooi, Deloitte Malaysia Country Managing Partner, Anwer Yusoff, Head of Industry and Business Development, Cyber Security Malaysia, and Donald Jokhan, Executive Security Advisor for IBM Security, Asia Pacific.