The Lunar New Year brings joy and celebration across Asia-Pacific (APAC) and increases cybersecurity vulnerabilities. Experts warn that cybercriminals target festive seasons, exploiting reduced staff presence, delayed responses, and distractions. Studies reveal that 86% of ransomware attacks in the US, UK, France, and Germany occurred during holidays or weekends, and APAC is no exception.
According to Munich Re, one of the region’s leading providers of cyber insurance solutions, human error remains a key factor behind many cyber breaches. It is something we have touched on in the past. As the saying goes, “When the cat’s away, the mice will play.“
Why Cyber Threats Spike During Festive Periods
Cybercriminals capitalize on the absence and distraction. Key IT staff are away. Responses are slower during festive breaks. The Lunar New Year impacts cybersecurity in APAC because it is a time of heightened online shopping and transaction activity. That creates conditions ripe for phishing attacks disguised as promotions, shipment updates, or gift confirmations. It can be easy for cybercriminals to exploit this increase in online activity and employees distracted by celebrations.
Key Cybersecurity Measures for the Festive Season
Organizations must strengthen their cybersecurity posture to counter these threats. Critical steps include:
- Advanced threat detection that blocks attacks.
- Zero-trust strategies for strict identity verification.
- Regular backups and incident response plans.
- Employee training to recognize phishing tactics.
- Updated systems and vulnerability management to address weaknesses.
The Role of Cyber Insurance in APAC
Cyber insurance is a safety net, covering costs that include business interruptions, data recovery, and liability claims. APAC has one of the highest global cyberattack rates. However, the region’s cyber insurance market is projected to double in the coming years, presenting an opportunity to enhance preparedness.
As the Lunar New Year or any holiday celebration approaches, proactive preparation is essential. Organizations and individuals must remain vigilant, combining robust cybersecurity practices with comprehensive insurance coverage to enjoy uninterrupted celebrations.
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