SGTech Members Share Insights on Digital Trust and Cyber Security at iTNews Asia Roundtable
On 26 May 2022, SGTech was well represented at a roundtable organised by iTNews Asia on "Managing Risk and Compliance in the Face of Emerging Insider Threats." In a wide-ranging discussion anchored on the broad theme of cybersecurity challenges amid evolving and accelerating threats, SGTech representatives offered several fascinating perspectives.
(Left to Right): Mr Glenn Wray, Mr Ken Soh and Mr Royce Wee in an engaging conversation
Mr Ken Soh, our Cyber Security Chapter’s Honorary Treasurer, leveraged his experience to speak on the ever-changing challenges of cyber threats, remarking that – while obviously unwelcome – sometimes known external attacks such as phishing are easier to handle for companies than insidious insider threats, which have the potential to cause much more persistent and complex problems.
Mr Royce Wee speaking at the roundtable
Mr Royce Wee, a Digital Trust Committee Exco member, made a salient point that compliance with laws and regulations is a bare minimum as it merely represents a corporation's license to operate in its jurisdiction. It is more important to develop Digital Trust, which can become a competitive advantage for a corporation to distinguish itself from the field. This can be cultivated by:
- understanding and meeting regulatory concerns, objectives and priorities;
- being transparent with auditable/verifiable policies, practices and standards
- providing genuine choice/options to end users; and
- demonstrating beneficence and value to customers.
He emphasised that digital trust is a journey without end, as laws constantly change and risks evolve. Nevertheless, it is important to embark on it with buy-in and modelling by the highest level of a corporation, demonstrated by long-term investments in its people, culture, practices, as well as systems, processes and tools.
Mr Glenn Wray speaking at the roundtable
Mr Glenn Wray, SGTech’s Senior Manager (Digital Trust), elaborated on our Digital Trust Committee’s upcoming initiatives to define Digital Trust and articulate its importance within the wider digital ecosystem, as Singapore continues to make strides as a global leader in the space.
SGTech wishes to thank the organiser for the kind invitation to offer our perspectives, Mr Amit Roy Choudhury for his expert moderation, all of the participating industry leaders for sharing their insights on this pertinent topic, and our SGTech members for giving up their time to represent us.
SGTech looks forward to more industry and media engagements like this in the future, and will continue to be a proactive voice towards the continued development of a more trusted and sustainable digital ecosystem in Singapore.
(Image credits: iTNews Asia)
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Published Jun 2022