Cyber attacks are on the rise, and Singapore has set aside $1.5 million for the next three years to advance the region’s ability to combat such threats.

The budget comes from a $10 million Asean Cyber Capacity Building Programme (ACCP) announced last October.

At the opening of the second annual Asean Ministerial Conference on cyber security on Monday (Sept 18), Communications and Information Minister Yaacob Ibrahim said: “Asean will need to address cyber-security challenges to reap the full dividends of our future digital economy.”

Dr Yaacob also called for a unified Asean voice on the global stage, as cyber threats see no geographical boundaries.

He was quoted as saying: “Globally, we are confronted with a pressing problem of a shortage of cyber security professionals, and the Government cannot grow the cyber security workforce and the ecosystem alone.”

To support the combined global effort, the Cyber Security Agency of Singapore (CSA) will sign a memorandum of understanding (MOU) with the Information Systems Audit and Control Association (ISACA), a leading professional body comprising of members from 188 countries.

Singapore’s Cyber Security Bill that will require public and private organisations to report critical cyber breaches to the Cyber Security Agency (CSA) will be discussed in parliament next year.