What Is A Cybersecurity Threat Assessment?

Cybersecurity Threat Assessment are increasing rapidly and are also becoming increasingly sophisticated, particularly with the increasing number of companies transitioning to the digital space. Cybercrime accounted for almost 50% of reported crimes in Singapore in 2024, with phishing, ransomware and online scams being the most common types of cybercrime, according to the Cyber Security Companies in Singapore (CSA).

With many businesses moving to a cloud service, e-commerce platform or digital payment application, the threat of attacks will only increase. For small and mid-sized businesses, just one successful cyber-attack can lead to significant challenges such as lost money, damaging sensitive personal data, or creating interruptions in business operations.

This is why it is essential to perform periodic cybersecurity assessments and evaluations. These assessments and evaluations determine vulnerabilities and provide insights into the likelihood of suffered threats, and actions to take to remain protected.

In Singapore, which is an advanced technology-driven society where many businesses use interfaces and digital systems while fulfilling strict compliance regulations, it is important for all businesses, size and at any stage of development to remain proactive and ahead of cyber threats. 

Why Is It Important for Singapore Businesses in 2025?

The amount of cyber threats in Singapore is increasing rapidly in 2025, according to the Cyber Security Audit Firms (CSA), there is a 20% increase in cybercrime threats. Common examples of attacks include phishing and ransomware, targeted at businesses of all sizes. With many businesses adopting more cloud services, artificial intelligence, and remote work comes with a greater chance of attack as well.

There are newer threats like AI-driven malware and insider threats, which are sometimes even harder to identify. A seemingly small event can lead to a catastrophic data breach, which is why you should regularly get an assessment of your cyber threats, especially if you are a business taking customer data, or you’re conducting online payments. 

Common Types Of Cyber Threats To Watch Out For

Cyber attacks, both in terms of prevalence but also in terms of sophistication, are becoming increasingly common. Companies must remain vigilant. By recognizing that there are several different threats, and with the knowledge of which attacks are most prevalent, you can identify how to defend your systems and data before they are compromised.

Whether it is phishing emails, ransomware, or insider threats, recognizing those threats is the first step to being capable of building stronger security.

• Phishing is an email attack where users click on fake emails or attachments that prompt them to give out personal information.
• Ransomware locks the files of a business until the ransom is paid.
• Malware is software designed to damage, access, and control systems.
• Insider threats happen when employees misuse their access.
• DDoS attacks put enough traffic on your company website to crash it.
• Credential stuffing is an attack using a person’s stolen username and password to access their accounts. 

Conclusion

Cyber threats in Singapore are getting smarter, and no business is too small to be a target. Even one attack can cause serious damage. That’s why implementing regular cybersecurity threat assessment must always be done. They allow businesses to assess threats promptly, remediate those threats, and strengthen defences from any future threats. The most effective way to stop threats is to outsmart threats. Don’t allow a threat to compromise your business, data, clients or customers.