CYBER SECURITY THREATS: RANSOMWARE ATTACKS IN SINGAPORE (2020-2021)

Abstract

Ransomware attacks are a type of cybercrime that has spread throughout the world. Ransomware is a type of malicious software that encrypts files on a device, locks the victim's or organization's important encrypted data so that they cannot access or open the file, and requires the victim to pay a ransom in a specific currency with crypto to recover the file. This ransomware attack is a type of non-state actor, i.e., black hat hacker, which is called online and anonymous activism, this black hat hacker is someone who has talent and uses it for personal gain politically and economically. The criminals of this ransomware attack managed to get their victims to pay to recover the files rather than reporting them, including in Singapore. Singapore is ranked as the 6th highest paid in 2021. This study using a National security concept, national security is an effort made by a country in defending its country 8

from threats. The purpose of this research is to look at the impact of ransomware attacks on the Singapore economy, and it is true that this attack has a huge impact on the Singapore economy. A comparison of Singapore's economic losses in 2020 and 2021 is shown, using the concept of national security in a theoretical research framework. This helps the authors examine Singapore's response to this cybercrime attack.