Blackpanda’s IR-1 Upgrade Reveals Cybersecurity Vulnerability Landscape in SMEs Across Asia Pacific

Today, Blackpanda, the foremost digital forensics and cybersecurity firm in Asia, unveiled its inaugural proprietary study, delving into cybersecurity vulnerabilities within SME companies across the Asia Pacific region. For this analysis, Blackpanda employs an in-house external attack surface management (ASM) scan to pinpoint top vulnerabilities indicative of substantial risk levels. These threats are deemed urgent for resolution, with recommendations suggesting swift action, ideally within a matter of days, to thwart potential infiltration by attackers aiming to launch cyber attacks.

The study reveals three major vulnerabilities that pose significant threats to regional security:

• Compromised Assets – Email breaches in the high-risk category constitute 71.68% of the total risk level combined, spotlighting a significant risk of information leakage and phishing attacks. This category represents the most extensive vulnerability, underscoring a critical need for advanced threat detection and incident response strategies.
• Exposed Web Services – Making up 69.92% of high-risk exposed services issues, vulnerabilities in web services indicate a widespread vulnerability to web-based attacks which can disrupt operations and compromise customer data.
• Known Software Vulnerabilities – Medium-risk level accounts for 59.96% of the system security issues where these vulnerabilities emerge as a crucial focus area, with practicable actions required to prevent data breaches that could lead to severe financial and reputational damage.

Gene Yu, CEO of Blackpanda Group, remarked, “The majority of cyber incidents we encounter stem from foundational vulnerabilities that persist unaddressed. Much like a burglar can exploit an unlocked door or open window for entry, cyber attackers capitalize on these vulnerabilities to breach systems. At Blackpanda, and through our Pandamatics Underwriting arm, we are committed not only to responding to these emergencies but also to significantly reducing the occurrence of such attacks across the entire market. This data isn’t merely a compilation of statistics; it serves as a roadmap, guiding us toward areas where the industry must focus its attention and resources to bolster its defenses effectively.”

In addition to the top three vulnerabilities, the study also draws attention to other significant security risks, including:

• Database and remote access services vulnerabilities, emphasizing the importance of robust access controls.
• System services and DNS configuration issues, highlighting the need for improved security practices.
• Underlying risks from software misconfiguration and SSL/TLS configuration gaps, which can lead to severe breaches if not addressed promptly.

Evelyn Del Monte, Managing Director for Blackpanda Philippines, remarked, “In the Philippines, we observe a notable prevalence of high-severity vulnerabilities that enable attackers to compromise administrative credentials, gain unauthorized entry to email accounts, or disrupt server operations. Given this landscape, robust security measures and proactive threat management aren’t just advisable—they are imperative. Our incident response capabilities are specifically designed to confront these challenges head-on, ensuring that businesses can effectively safeguard their digital environments.”

Blackpanda’s exhaustive study not only identifies current vulnerabilities but also offers tailored recommendations for businesses to bolster their security frameworks. By implementing these suggested strategies, companies and national agencies can significantly reduce the risk of cyber attacks, fortifying their data and operations against increasingly sophisticated threats.

IR-1 by Blackpanda

The cornerstone solution from Blackpanda, IR-1, seamlessly merges top-tier incident response, ongoing vulnerability assessments, and streamlined access to cyber insurance within a single SaaS platform. Tailored for small and medium-sized enterprises in the Asia Pacific region, IR-1 offers an annual subscription that amalgamates proactive cybersecurity tools with hassle-free incident response capabilities.

Instantaneous, Round-the-Clock Incident Response

A notable aspect of IR-1 is its round-the-clock fixed-cost incident response service. This feature ensures that businesses have immediate access to expert support in the event of a cyber incident, crucial for minimizing downtime and swiftly mitigating damage. The fixed-cost model also aids businesses in managing their cybersecurity budgets more effectively by averting unexpected expenses associated with emergency responses.

Proactive Continuous Vulnerability Scanning

Central to IR-1’s proactive approach is its continuous vulnerability scanning feature. This service diligently monitors and detects vulnerabilities within an organization’s digital ecosystem. By identifying and remedying these vulnerabilities at an early stage, businesses can markedly diminish their susceptibility to potential cyberattacks and bolster their overall security stance.

Streamlined Access to Cyber Insurance

Another pioneering facet of IR-1 is its automated access to cyber insurance, tailored for Singapore and Hong Kong through Pandamatics Underwriting, an arm of the Blackpanda Group. This functionality streamlines the cyber insurance procurement process, enabling businesses to swiftly acquire coverage that aligns with their risk management strategies.

A Unified Solution for Enhanced Cybersecurity

“IR-1 provides our clients with comprehensive tools and resources vital for both preventing and addressing cyberattacks,” states Evelyn del Monte, Blackpanda’s Managing Director for the Philippines. “We are continuously striving for excellence and have planned several significant upgrades for this year. Our subscribers can anticipate the introduction of even more advanced, technology-driven solutions customized to meet their requirements.”

In the Philippines, Blackpanda collaborates with channel network partners such as Exclusive Networks (EN) and iSecure Network (ISN).