Kathmandu. Only 50% of organizations in Asia feel confident in their cyber risk management and mitigation efforts. <\/p>\n
A study by Mars, the world’s largest insurance broker, has shown this. In Asia, this level is much lower than the global average of 72%. This is the lowest globally. <\/p>\n
ransomware<\/strong><\/span><\/p>\n The study found that one in three respondents cited ransomware and data breaches as their top cyber risk concerns. <\/p>\n Ransomware has become the most common threat in Asia. 33% of respondents cited it as their top concern. Then there’s the data breach (29%). These include the loss of non-personal confidential information and the theft or leakage of personal data (28%). This poses significant risks to sensitive corporate and personal information. <\/p>\n AI-enabled cyberattacks<\/strong><\/span><\/p>\n Government data across Asia shows a rapid increase in both the frequency and sophistication of AI-enabled cyberattacks. This can lead to business disruptions, financial damage and reputational damage. <\/p>\n Singapore’s cybersecurity agency has reported a 21% increase in ransomware incidents in 2024. This is partly because cybercriminals use AI to automate and improve their attack methods. <\/p>\n The Ministry of Science and ICT in South Korea has reported a 26% year-on-year increase in cybersecurity breaches in 2025. It is powered by more advanced, AI-enabled hacking technology and coordinated attacks. <\/p>\n Meanwhile, Japan has seen a 340% increase in advanced cyberattacks targeting government systems and critical infrastructure from 2023. This has made it one of Asia’s most vulnerable markets for ransomware-related threats. <\/p>\n AI-driven fraud risk{<\/strong><\/span><\/p>\n }<\/p>\n The study found that 9 out of 10 businesses in the Asia-Pacific region expect to see an increase in AI-driven social engineering attacks, deepfakes and fraud. AI-enabled fraud and deepfakes are emerging as an increasingly growing threat. Advances in AI have made fraud more sophisticated and scalable. This has reduced the barriers for criminals to manipulate employees and weakened control between businesses and their financial institutions. <\/p>\n This increased risk is already turning into a real impact. 64% of organizations cite financial loss as their primary concern. <\/p>\n The MARS data also shows that the lack of technology skills is one of the risks associated with the top five people in Asia. While 67% of organizations in the region plan to invest in cybersecurity talent, Asia Pacific continues to have the world’s largest talent gap. There are about 26 lakh vacant roles. <\/p>\n This shortage is slowing incident response times and exacerbating security vulnerabilities. <\/p>\n Cybersecurity is on the rise but risk transfer slow<\/strong><\/span><\/p>\n According to the study, more than a third of the global cyber and social engineering attacks occur in Asia. This prompts organizations to prioritize cybersecurity measures and incident preparedness. While that often invests less in risk transfers. <\/p>\n Cybersecurity technologies and solutions make up the largest 21% of the budget. This includes areas such as threat detection, network security, endpoint security, and continuous monitoring. Cyber incident response and breach management accounted for 20.6% of the spending. This highlights the importance of rapid and effective response capabilities. <\/p>\n However, despite these investments, cyber claims notifications in Asia are projected to increase by 50% between 2022 and 2024. Meanwhile, cyber and commercial crime accounted for only 15.6% of the insurance budget. This makes it the second lowest priority in organizations’ overall cyber risk management strategies. \u2013Agency<\/p>\n","protected":false},"excerpt":{"rendered":" Kathmandu. Only 50% of organizations in Asia feel confident in their cyber risk management and mitigation efforts. A study by Mars, the world’s largest insurance broker, has shown this. In Asia, this level is much lower than the global average of 72%. This is the lowest globally. ransomware The study found that one in three […]<\/p>\n","protected":false},"author":16,"featured_media":229186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45044,45159],"tags":[],"class_list":["post-293533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/293533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=293533"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/293533\/revisions"}],"predecessor-version":[{"id":293534,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/293533\/revisions\/293534"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/229186"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=293533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=293533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=293533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}