Emotet virus threatens half of Singapore firms

Ensign InfoSecurity has unveiled its pioneering Cyber Threat Detection & Analytics engine, which is capable of providing highly localised cyber threat intelligence by analysing Singapore-centric network data, which is then correlated and corroborated with global cyber threat intelligence. 

This provides organisations with highly contextualised and actionable information to preempt and defend against emerging threats.

“Cyber threat actors today are constantly evolving their tactics, techniques and procedures (TTPs) that allow them to target new attack vectors and vulnerabilities, while staying undetected in an organisation’s network,” said Lim Woo Lip, EVP for technology and capabilities at Ensign.

“The amalgamation of global and local threat intelligence enables Ensign to provide unique cyber threat insights that fuel effective and holistic cybersecurity strategies, Lim said. “This allows us to identify emerging threats and key vulnerabilities, and proactively implement a multidimensional cyber defence plan, hours or even days, before an attack.”

Ensign’s proprietary engine leverages big data analytics and advanced artificial intelligence (AI) to detect suspicious activities, and identify threats found in the networks of locally-based organisations. Emotet is one of the key cyber threats that Ensign has identified through its new engine.

First detected in 2014, Emotet was created as a Trojan virus to steal financial data for illicit monetary gain. Today, Emotet is becoming a significant threat as cyber threat actors have modified the malware to download and deliver other malicious variants. 

In the first half of 2019, Ensign found that Emotet activities in Singapore have increased by more than 300% compared to the same period last year. It has also detected activities from this malware in 50% of local organisations’ network.

Traditionally used to target the financial services sector, Emotet has been modified to target other industries.

In Singapore, Ensign uncovered that the top five sectors with the highest regularity of observed Emotet activities in the first half of 2019 were manufacturing, financial services, media, aviation and healthcare.