Digital threats are rampant, with a number of ransomware and data breach attacks gaining more attention in Singapore. A study by Microsoft states that one in two companies in Singapore have either been the victim in a recent cyberattack or is unsure whether its digital front has been compromised. Despite this notable increase in cyberattacks, only 46% of organisations will consider cyber security before the start of a digital project.

The consequences of a cyber breach are a major toll on the company’s finances. Data leaks, viruses, cyber threats and attacks are not exclusive to large, branded corporations. Smaller and medium sized companies are also at risk. This is worrying for smaller corporations, some of who, abstain from a digital transformation to avoid these threats completely. But in a world that relies on social media, online reviews, and content marketing, it’s impossible for companies to grow without the internet.

Still unsure to whether you should invest in cyber security? Here are some reasons why Singapore companies need to take digital threats seriously.