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

  • Angkor Wat named as the top landmark for the second year

    Travel website TripAdvisor has named Cambodia’s ancient wonder Angkor Wat as the top landmark in the world for the second year running in their Travelers’ Choice Award 2018, an achievement Cambodian tourism operators expect will attract more tourists to the Kingdom. The website uses traveller

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Hun Sen detractors ‘will die’

    Prime Minister Hun Sen on Wednesday said those who curse or insult him would eventually die without a plot of land to bury their bodies after being killed by lightning, suffering the same fate as those who recently died in Thmar Baing district in Koh

  • Ministry’s plan for net sparks fears

    The government has ordered all domestic and international internet traffic in the Kingdom to pass through a Data Management Centre (DMC) that has been newly created by the state-owned Telecom Cambodia, in a move some have claimed is an attempt to censor government critics. Spokesman