COVID-19 has highlighted the vulnerability to cybercrime of businesses in Asia, from large corporates to SMEs
Phishing emails have increased 600% during the pandemic, and 50% of corporates fear cyber-attacks due to rise of work-from-home
HONG KONG, Sept. 3, 2020 /PRNewswire/ -- Blackpanda is hyper-focused on providing best-in-class digital forensics and cyber incident response. With a team of elite risk and cyber security experts from international special forces, intelligence, digital forensics, and law enforcement backgrounds, Blackpanda is shaping incident response and digital forensics in Asia.
Bridging the Cyber Risk Management Gap in Asia
"Asian businesses are not as prepared as companies in the U.S. and Europe. The average duration from cyber breach to identification in 2019 was 262 days, significantly more than their counterparts in the U.S. at 46 days and Europe at 61 days. In 2020, we have seen improvements in Asia, but companies still take more than three months on average to identify a breach," states Blackpanda's CEO, Gene Yu.
"Being Asian-headquartered, with highly trained teams of cyber security digital forensics and incident response experts throughout APAC, enables us to activate on-site and remote responders quickly. We incorporate locally based responders alongside our proprietary digital forensics software ("Pandarecon") to detect and combat threats, addressing clients' vulnerabilities across physical, social and cyber domains to identify the true source of a breach," adds Gene Yu.
Cyber Incidents Accelerate During COVID-19, SMEs are at Risk
COVID-19 has amplified the threat of cybercrime with 'Work from Home' practices normalising globally. The World Economic Forum's COVID-19 Risks Outlook, published in July 2020, states that over 50% of companies fear cyber-attacks as a result of new work-from-home practices. U.S. Government data shows phishing emails have increased 600% during the pandemic, raising threats to small-to-medium enterprises (SMEs) with over 90% of cyber-attacks to SMEs generated by phishing.
"Cyber security is not an IT problem, it's a security problem. Asset-rich and data-rich operations are especially vulnerable," says Gene Yu. "At Blackpanda, we are dedicated to providing best-in-class incident response capability in Asia throughout this challenging pandemic and beyond, with a dedication to help make a previously cost-prohibitive service more accessible to Asian businesses."
Backed by Big Business
Blackpanda has received US$7.3 million in investment to date. It is backed by institutional capital, including a multi-billion PE firm and one of the largest consumer marketing and retail operators in Vietnam. In addition, Blackpanda works with a diverse group of partners including NTT, SmarTone Solutions, AETOS, CenturyLink, Acuris Risk Intelligence, ReaQta, Horangi, and the Spectrum Gaming Group.
"We are thrilled to have the support of large players in the region. In recent years, we have seen an increasing awareness in the need to keep data secure, as well as a rising awareness for the both the need and availability of actual cyber incident response after a data breach. We are confident that Blackpanda can fast-track improvement on the region's cyber security incident response services and narrow the gap between Asia and the West," says its Co-Founder and CEO, Gene Yu.
Asia's premier cyber security incident response firm, hyper-focused on digital forensics and cyber crisis response. Our team consists of an elite cadre of special risk and security experts from International military special forces, intelligence, forensics, and law enforcement backgrounds. We are highly trained, ready to respond to and help manage crises on short notice, when and wherever needed. Dual headquartered in Hong Kong and Singapore, and offices in Tokyo, Manila and Kuala Lumpur. www.blackpanda.com
For more information, please contact:
Austin Lafferty, Head of Marketing
Tel: +65 6692 9110
Mob: +65 8891 7140
Bowen Chui, Vice President
Tel: +852 2861 3255
Mob: +852 9783 0643