KUALA LUMPUR: Cybercrimes are emerging at an alarming rate, as the world rapidly moves towards digital economy.
Home Minister Datuk Seri Hamzah Zainudin warned that if left unchecked, the culprits were there to strike and cause severe damage to a nation's security and economy.
"As we double our efforts to develop ourselves into a digital driven nation, we also need to recognise that cyber threats are lurking by the side-lines waiting to exploit this national strategy.
"The act of cybercrimes disrupting our digital economic sectors poses a threat to our national well-being and must be dealt with at all cost," he in his keynote address at the 'Cyber Defence and Security Conference - DSA NATSEC ASIA 2022'.
The event was organised in conjunction with the biennial 'Defence Services Asia (DSA) 2022 and National Security Conference Asia (NATSEC) 2022' at the Malaysia International Trade and Exhibition Centre (Mitec), here.
Hamzah took time off later to launch the book 'Jenayah Cyber di Malaysia: Impak Leluasa Internet' (or Cybercrimes in Malaysia: Pervasive Impact of the Internet) that was published by his ministry's Institute of Public Security.
He said studies had shown that cyber threats and online scams were increasing at alarming rates.
"Almost 70 per cent of commercial crime cases are now categorised as cybercrime cases.
"The numbers are staggering!" Hamzah revealed.
The police recorded reports on losses of 2.23 billion ringgit from the period 2017 to June 2021.
"The government continues to make progress in the governance and coordination that addresses cybersecurity.
"The International Telecommunication Union has scored and ranked Malaysia as No. 5 in the Global Cybersecurity Index 2020 score and comes in as No. 2 in the Asia Pacific region after Singapore. This recognition is a true testament that reflects our commitments to address cybersecurity," he said.
While the threats existed, Hamzah said one had to connect, to learn and to engage in meaningful exchanges on how governments, businesses and other related stakeholders could collectively work together to elevate the cyber security agenda.
"The last three years have been a unique period, a challenging time for all of us.
"As we have all witnessed the majority of the world's workforce have had to rapidly adapt in meeting the challenges caused by the Covid-19 pandemic.
"The surge in having to be at home and work remotely has necessitated the use of high-speed internet and innovative digital technologies to enable the continuity of livelihoods, businesses and government activities," he said.
Hamzah added that the government understood the value of embracing innovative technologies to drive its digital economy in order to achieve sustainable growth in the long term.
"The rationale behind digitalisation is clear. It improves efficiency, competitiveness and economics of scale.
"Businesses from online shopping grew more than 53 per cent and online food delivery jumped by 61 per cent," he stressed.
The government, thus, had introduced the Prihatin Economic Financial Stimulus Package to incentivise the business community.
"For Malaysia, our digital economy is expected to contribute about 22.6 per cent to our gross domestic product by the year 2025.
"We now have much more than a calculator in our pocket.
"What we have in our pockets is an innovative tool that has the ability to produce an 'intended effect', capable of not just making videos, or making friends, or spreading hope and ideas.
"But it is also a tool, in fact it has the power to spread fear, misinform or propagate violence on a greater scale, and with potentially devastating effects.
"The advancement in artificial intelligence (AI) and deep learning technologies are now easily accessible to make falsified information appear so real such that someone can be seen to say things that they have never actually said," he said.
All this, he added, was attributed to the advancement in technology.
"However, the problem does not lie with technology in itself.
"The deeper truth is that human behaviours and expectations have changed.
"We now live in a world where inappropriate or illegal materials are now easily accessible to under aged groups and where the cultures of everyday life are now shaped by the forces of social media.
"The internet has indeed changed the world; it has changed history and it has certainly changed us.
"In the right hands, the technology we have in our pocket can do wonders for society. And in the wrong hands, as we have seen, the same tools and skill sets can enormously be destructive," he warned.
Hamzah added that the tools we had today that brought us closer together could also drive us further apart.
"This gels rightfully into the theme of this conference which calls for 'Working Together Towards The Future of Cyber Security in Southeast Asia'.
"The need for a safe and secure cyberspace has become more important than ever.
"We must collectively learn from experiences of the past, such as those from the Estonian cyber-attacks in 2007, or the Ukrainian Power Grid Attack in 2015," Hamzah said.
He added that as we moved forward into the future of living with technology - where smart cities were being built and mission critical data were being sent across the internet to databases for real time tracking, monitoring and response -it was without a single doubt that cyber security must be placed at the forefront of the entire digital ecosystem.
He revealed that in a study done by Google, it was projected that the digital economy in Southeast Asia was expected to double to US$363 billion in 2025, surpassing the previous forecast of US$300 billion.
"As such Asean countries should continue to strengthen existing cooperation and to identify existing gaps to improve and elevate regional cybersecurity agenda.
"Collaborative efforts such as multi-stakeholder initiatives gathering representatives from all relevant cybersecurity institutions and government agencies with representatives from the private sectors - including private companies, banking sectors, universities and non-governmental organisations to perform cyber test drills at national levels should also be extended to regional levels.
"This act of cooperation will certainly further strengthen the relationships between Asian member countries and provide a more common understanding on how to handle cyber-attacks directed to the Southeast Asian region," Hamzah said.
He lauded the international speakers and panel members who shared their thoughts, experiences and views on how nations could further collaborate to elevate its cybersecurity agenda. with the aim to protect our growing digital economy in this region.
"It is my sincere hope that this conference would enable all of you to gain new insights and share brilliant ideas and experiences, so that we can work together as we advance into the new area of defence and homeland security," Hamzah said.