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Cybercrime Surges As Security Spending Falls Short In Thailand

This week in cybersecurity from the editors at Cybercrime Magazine

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Sausalito, Calif. – Jun. 19, 2024

Bangkok Post reports that the financial impact of cybercrime on the economy and society is expected to surge to $10.5 trillion USD by 2025 based on data from Cybersecurity Ventures, yet Thailand spends only 0.2 percent of corporate revenue on security systems, according to Sunnyvale, Calif.-based Fortinet.

Thailand has a shortage of security workers, with only two full-time IT security employees employed per 1,000 employees.

A Fortinet-IDC survey found that the top five common cyberthreats in Thailand are phishing, identity theft, ransomware, patching vulnerabilities and Internet of Things (IoT) attacks.

The top five most targeted sectors were technology, healthcare, telcom, government, and manufacturing.

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