Why CSA Cyber Essentials and Trust marks are Critical for Your Business
3 min

Why CSA Cyber Essentials and Trust marks are Critical for Your Business?

Posted by: TÜV SÜD Expert Date: 22 May 2023

With the world going digital and virtually all operations moving online, cybersecurity has emerged as one of the biggest threats to individuals, governments, and business organisations. As technology becomes more accessible, 90% of the world population (6 years and older) is likely to be online by 2030, and we will need to protect 200 zettabytes of data by 2025. As annual cybersecurity damages will likely reach $10.5 trillion by 2025, investment in cybersecurity initiatives is no longer an option. Modern businesses must establish their trustworthiness for customers to trust them with data. For organisations operating in Singapore, a CSA Cyber Essentials or Trust mark is a sign that they have robust cybersecurity practices in place and can protect their and their customers’ data while evolving with the changing tech environment.

Overview of Singapore’s Technological Adoption

Singapore is determined to create possibilities beyond imagination and become a Smart Nation in the rapidly evolving digital era. With the three key pillars, digital government, digital economy, and digital society, Singapore’s digital-first vision is to harness next-gen technologies to transform health, transport, urban living, government services, and businesses. Singapore’s key Strategic National Projects like National Digital Identity, Smart Urban Mobility, GoBusiness, CODEX, E-Payments, Smart National Sensor Platform, Punggol Smart Town, and LifeSG enable the culture of innovation and experimentation throughout the country.[1]

With initiatives supporting open data, living laboratories, industry and start-up ecosystems, cybersecurity and data privacy, computational capabilities and digital inclusion, and cross-border collaboration, Singapore boasts the top tech adoption rates among the leading Asian economies. This allows Singapore businesses to stand out, stay competitive in today’s digital economy, and handle business uncertainties effectively.[2]

Singapore’s Stand on Cybersecurity

But with high tech adoption rates comes the threat to data and cybersecurity, and Singapore is taking a proactive stance against cyber threats with the Singapore Cybersecurity Strategy 2021. This strategy outlines Singapore’s goals and approach to adapt to the rapidly evolving disruptive technologies and sophisticated threat actors. Working together with multiple stakeholders from industry, government and academics, Strategy 2021 seeks to defend Singapore’s cyberspace with the help of three strategic pillars and two foundational enablers, namely:

  • Strategic Pillar 1: Build Resilient Infrastructure
  • Strategic Pillar 2: Enable a Safer Cyberspace
  • Strategic Pillar 3: Enhance International Cyber Cooperation
  • Foundational Enabler 1: Develop a Vibrant Cybersecurity Ecosystem
  • Foundational Enabler 2: Grow a Robust Cyber Talent Pipeline

Under Strategy 2021, the Cyber Security Agency of Singapore (CSA) will look at not just the information-critical infrastructure but all the entities that have significant repercussions for Singapore. This includes identifying and analysing threats to Singapore’s infrastructure, developing technical capabilities and developing the overall cybersecurity ecosystem in the country.[3][4]

One of the initiatives in Strategy 2021 is the government-backed scheme of CSA Cyber Essentials and Cyber Trust marks, which will certify whether or not a business is well-prepared to protect its data and infrastructure per the industry standards and best practices. This framework allows businesses to identify cybersecurity gaps, provides easy-to-follow guidelines to address these gaps, and recommends cybersecurity tools and procedures to protect your cyberspace. As a result, you can establish the business’s credibility, instil trust among your customers that their data is safe with your business in today’s data-centric economy, and save your business from the devastating consequences of cyber attacks.[5]

What is the Impact of Lacking Cybersecurity Strategy?

Businesses cannot take the threat to cybersecurity lightly. The number of cyberattacks businesses faced each week had grown by 50% between 2020 and 2021, and there is no indication of this trend slowing down. In fact, with the development of new cybersecurity tools, techniques and practices, the threats continue to evolve, leaving businesses with absent cybersecurity strategies vulnerable to more sophisticated security risks and threats. The blow of a cyber attack is staggering, and the business stands to lose everything, including its reputation, employees, customers, profits and the resources to recover from the financial blow. The staggering cost of a cyber attack can not only bankrupt a business but also land it in legal trouble, leading to mistrust among customers and a break in business continuity. With the global cost of cybercrimes set to reach $10.5 trillion by 2025, modern businesses can no longer survive without a robust cybersecurity strategy.[6]

Get Your Cyber Essentials and Trust mark Certification

Although the CSA Cyber Essentials and Cyber Trust mark are currently optional, these are important certifications for businesses of all sizes operating in Singapore. TÜV SÜD is the perfect partner for you to obtain the CSA Cyber Essentials mark certification or Trust mark certification to validate your cybersecurity strategy. Our experienced and qualified experts can conduct Cyber Essentials mark, and Cyber Trust mark audits across diverse industry segments and validate your cybersecurity strategies and practices. And as a third-party independent certification body, authorities and industries worldwide recognise the TÜV SÜD certification mark, allowing you to demonstrate your accountability in protecting yourself, your employees, and your customers from cybersecurity threats. Apply for the certification with us now, and TÜV SÜD experts will support you in your journey to achieve the CSA Cyber Essentials mark and Cyber Trust mark certifications.

Conclusion

Cybersecurity has emerged as one of the biggest concerns for organisations around the globe with rapid digitisation and tech adoption. Singapore, with one of the highest tech adoption rates, has taken proactive steps to secure cyberspace with the Singapore Cybersecurity Strategy 2021. CSA Cyber Essentials mark and Cyber Trust mark are an integral part of Strategy 2021, allowing businesses to establish their credibility and ability to protect their infrastructure against emerging cybersecurity threats. TÜV SÜD can be the perfect partner for you to validate your cybersecurity strategy and establish your credibility and accountability globally with the CSA Cyber Essentials mark certification or Trust mark certification. We also provide training courses, learn more here: CSA Cyber Essentials mark Training and CSA Cyber Trust mark Training.

References:

  1. Smartnation.gov.sg, https://www.smartnation.gov.sg/about-smart-nation/transforming-singapore/
  2. Channelasia, https://www.channelasia.tech/article/691152/singapore-boasts-top-business-tech-adoption-rate-asia/
  3. Csa.gov.sg, https://www.csa.gov.sg/Tips-Resource/publications/2021/singapore-cybersecurity-strategy-2021
  4. Channelnewsasia, https://www.channelnewsasia.com/singapore/singapore-proactive-stance-cyber-threats-updated-national-strategy-2223536
  5. Csa.gov.sg, https://www.csa.gov.sg/docs/default-source/csa/documents/publications/the-singapore-cybersecurity-strategy-2021
  6. Cyberdegrees, https://www.cyberdegrees.org/resources/hot-technologies-cyber-security/                                    

 

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