Advanced persistent attacks (APTs) will become more common across banking institutions in Latin America and will be the entry way of cybercriminals to these organisations, according to security firm Kaspersky Lab. “APTs were used as a means of corporate and government espionage, but attacks such as Carbanak (an APT-style campaign targeting - but not limited to - financial institutions ) proves that APTs with the final objective of financial gains will become a lot more common in Latin America,” Fabio Assolini, senior researcher at Kaspersky.

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Questions remain over the kinds of services that will require a license and government officials' liability, but the proposed legislation is clear in one thing--that cybersecurity must now be a top priority for any business operating critical infrastructures in Singapore.

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