A
day before "DATA PRIVACY DAY", Prime Minister Lee Hsien Loong’s office announced the creation of the Cyber Security Agency of Singapore, which “will provide
dedicated and centralised oversight of national cyber security functions.”
Given the sinister ways in which cyber threats are evolving, the move is a
necessary step for a wired, wealthy nation that has long been the target of cybercrime.
This
is a rare radical step towards the fight against cybercrimes in Singapore which came
at the right time considering a string
of attacks on Singapore government portals, including the websites of the
office of the prime minister and the president in 2013, as well as recent cyber-attacks against Finland, Germany,
Ukraine, and U.S and other parts of the world.
The
agency, which will work closely with the private sector, will be involved in
"strategy and policy development, cyber security operations, industry
development and outreach," according to the statement.
Minister
for Communications and Information Yaacob Ibrahim will be put in charge of
cyber security, it said. Last year Yaacob said the city-state was upgrading its
Cyber-Watch Centre, allowing it to track malicious activities and respond
swiftly when there are security breaches.
He
said the government was working to increase the number of homegrown cyber
security experts by partnering with local universities that offer specialist
degrees.
Cyber-attacks
cost an estimated "$445 BILLION" in damages per year, At Davos, participants
diplomatically shied away from naming exactly which countries are increasing
their cooperation with organized cybercrime, but their identities are no
secret.