SecurityScorecard, the global leader in cybersecurity ratings, and LinkAxia a leading cybersecurity software distributor in Malaysia and Brunei, released the results of a report that found 56 of 150 Malaysian organizations scored an “A” rating of their organizational risk, with 79 organizations ranking “C or below” over a three month period from January to March 2022. SecurityScorecard provides industry leading security ratings, automated assessments, and comprehensive third party risk management to help businesses understand vulnerabilities and improve cybersecurity postures.
SecurityScorecard and LinkAxia assessed the ratings of 150 organisations made up of critical national information organizations, government agencies and communication, multimedia and telecommunications providers throughout the region, to gain insight into the regions’ collective cyber risk awareness and readiness.
The SecurityScorecard and LinkAxia report showed that 38% or government organizations scored an “A” rating, with only 26 percent of critical national information infrastructure organizations scoring an “A” rating. 10 percent of multimedia and communications organizations in the region scored an “A.”
“SecurityScorecard and LinkAxia are raising awareness of the need for continuous monitoring of organizations 3rd party and 4th-party software ecosystems,” said Matthew McKenna, President, International Sales, SecurityScorecard. “The global threat landscape has evolved and demands that organisations do more to protect their businesses and their entire supply chain while meeting more rigorous government regulations.”
“The A rating demonstrates that these organizations are achieving world class security hygiene in upkeeping a strong and healthy posture,” said McKenna. “What is most promising is that over that past 30 days, 43% of organizations surveyed have improved their security postures.”
Through a proprietary ratings system, including easy-to-understand A-F graded scorecards, SecurityScorecard and its team of industry experts provide organisations with deep analysis of cyber threat intelligence and comprehensive monitoring and assessment tools to manage third party risk, ensure compliance reporting is accurate, and help foster more informed decisions.
“As some of these organizations are offering the critical necessities and basic needs to the Rakyat, it is important to ensure that their security posture is maintained at the highest level constantly,” said Baharudin Mamat, Director of Government & Telecommunication of LinkAxia.
“SecurityScorecard objectively monitors the security hygiene of organizations and gauges whether their security posture is improving or deteriorating over time. The results show many Malaysian organizations are vulnerable to severe cyberattacks.
“It is time for these organizations to start prioritizing Cybersecurity before it is too late. As part of the mission, we plan to share these findings with the respective organizations so that they can take the necessary action to improve their security rating quickly.”
The study is based on a weighted average of 10 Factor Scores, namely Network Security, DNS Health, Patching Cadence, Endpoint Security, IP Reputation, Application Security, Cubit Score, Hacker Chatter, Information Leak and Social Engineering.
