Logo of Phnom Penh Post newspaper Phnom Penh Post - Firm to plug holes in online security

Firm to plug holes in online security

Firm to plug holes in online security

Singaporean IT consultancy Lantium is set to tap into Cambodia’s underdeveloped cybersecurity market and begin operating in the Kingdom within the next two weeks after announcing yesterday it had entered into a joint venture with local investment firm KH Niron.

Jeff Middleton, president and CEO of Lantium, is optimistic about the potential for expansion in Cambodia given the limited competition in the country’s online security sector.

“It is a new market but it is not a big enough market to attract big players, which means the competition right now is very small,” he said. “As Cambodia grows and its GDP increases, people will get wealthier and the threats will start to appear.”

Cambodian companies have little knowledge of how cybersecurity threats can affect their businesses, Middleton explained. Many will wait until they know they have been hacked to seek cybersecurity services, and then it is often too late, he added.

“A lot of companies do not realise they are a target, but smaller companies can often be stepping stones to larger companies and so that makes them vulnerable,” Middleton said. “In Asia, the average is 500 days until a hack is discovered.”

On the other side of the equation, there is also a global shortage of trained cybersecurity experts, a fact that Steven Path, president of the Cambodian ICT Federation, said is particularly true in Cambodia.

Partly because of the low media coverage of the issue in Cambodia, cybersecurity awareness is not very widespread, Path said, adding that because few hacks have been reported, many firms do not understand the risks or the need to implement cybersecurity prevention measures.

“The problem is that if a company invests in cybersecurity and there is no breach, they do not see how their investment is benefitting them so it is like a catch-22 and it gives them a false sense of security,” he said. “Just because you have not been hacked does not mean you are secure.”

He added that the ICT Federation is trying to act preemptively before any major breach is discovered and that further efforts to address the issue would require the cooperation of the government and private sector.

MOST VIEWED

  • Locations shut, dozens more Covid-19 positive

    The Ministry of Health has closed 23 locations in connection with the February 20 community transmission of Covid-19 and summoned for testing anyone who had direct contact with affected people and places. The number of discovered related infections has risen to 76, including 39 women. In a press release,

  • PM confirms third Covid-19 community transmission

    Prime Minister Hun Sen on February 20 announced the Kingdom's third outbreak of Covid-19 community transmission after 32 people tested positive in just over 10 hours. Addressing the public from his residence after an emergency meeting, Hun Sen said: "I dub it February 20 Community Event, in which 32 cases

  • Covid cluster raises alarm, health bodies urge vigilance

    The Ministry of Health and the World Health Organisation (WHO) in Cambodia have expressed great concern over the February 20 cluster transmission of Covid-19 in the community. Both entities appealed for vigilance and cooperation in curbing further spread of the virus. Ministry spokeswoman Or Vandine said

  • Cambodia to make auto-rickshaws

    Locally-assembled electric auto-rickshaws could hit the Cambodian market as soon as early in May after the Council for the Development of Cambodia (CDC) gave the greenlight to an investment project at the weekend. According to a CDC press release, it will issue a final registration

  • Howard Johnson opens in Sihanoukville

    New York Stock Exchange- (NYSE) listed hotel franchiser Wyndham Hotels & Resorts Inc (WH) has opened its first hotel in the Kingdom – the Howard Johnson Plaza by Wyndham Blue Bay Sihanoukville, WH said in a February 18 press release. WH said the new 36-storey property in Sihanoukville’

  • Cambodia’s new draft law on investment and its effects

    The Council for the Development of Cambodia (CDC) has completed the drafting of the long-awaited new Law on Investment. The draft will be later tabled at the Economic and Financial Policy Committee before being submitted to the Council of Ministers and the National Assembly for