EY Vietnam: Organisations need to be on high alert for cyber threats

EY Vietnam's workshop "Cybersecurity and the importance of Threat Intelligence Sharing Platform”

Speaking at the workshop, Tran Dinh Cuong, general director of EY Vietnam, said, “Cybersecurity has to be embedded in organisations' development strategy. It is vital to have systematic co-operation, information sharing, and technical assistance not only within an internal financial institution but also in the financial and banking sector and related organisations with cybersecurity experts.”

According to Cuong, the aim should not only be to protect the enterprise with good cybersecurity hygiene and basic lines of defense, but also to optimise the response with more advanced tools and strategies.

Echoing this point, Geoff Noble, Anomali’s senior vice president, said, “One organisation’s detection can be prevention. Therefore, the highest way is to build on trust, which can manage the trust about what you shared. You can be part of a community like EY Vietnam to bring intelligence into the platform.”

At the workshop, experts agreed that early detection and warnings of cyberattacks play a major role in helping organisations effectively react to threats before they damage the businesses and their stakeholders.

Emphasising on the critical role of the advanced notification and warnings of cyber assaults, Robert Trong Tran, leader of Cybersecurity Services at EY Consulting Vietnam believed that the platform for malware information sharing and cyberattack signals analysis among enterprises will be a prerequisite to effectively cope with intentional and complicated hacking assaults.

Without timely defense, a cyberspace intrusion will wreak havoc and cause immense losses to a business, not to mention the potential injury of prestige and credibility in future transactions, noted experts at the workshop. Organisations should always be on high alert and be ready to fight with cybersecurity intrusions to minimise possible financial and reputational risks.

“Any organisation can be a potential target for hackers. We need to be on high surveillance and be fully prepared for cyber threats,” concluded Robert.