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FireEye and SingTel Invest $50M to Strengthen Cybersecurity in APAC Region

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FireEye is launching two new advanced security operation centers in Singapore and Sydney which will be monitored around the clock for cybersecurity attacks as part of a new partnership with SingTel on Monday. The companies will launch the first SingTel Managed Defence solution powered by FireEye in the APAC region.

SingTel’s CEO Bill Chang said during a teleconference on Tuesday that the two companies will invest up to $50 million in the next five years on the ASOCs and infrastructure.

According to the FireEye 2013 Advanced Threat Report, three of the top ten highest number of advanced persistent threat attacks were on countries in the APAC region.

In a regional Advanced Threat Report, FireEye discovered that APAC countries are more likely to be targeted by advanced cyberattacks than the rest of the world. The company expects to produce more data specific to the region through its partnership with Singtel.

FireEye’s Mandiant incident response investigation reported that the median number of days advanced attackers went undetected was 229 before being discovered and the vulnerabilities remediated. An organization can be exposed to potential malicious activity for months before a breach is discovered.

This lack of detection is evident in the recent US bank hacks. Last week JP Morgan reported over 76 million customer accounts were exposed through a security breach that had been undiscovered for months.

The SingTel Managed Defence solution will provide 24×7 monitoring and detection of malware and other threats to governments and enterprises. Chang said, “This is a ground-breaking collaboration to enhance the cyber security ecosystem in the region. We are combining FireEye’s best-of-breed managed defense capabilities and SingTel’s leadership in ICT services and infrastructure in Asia Pacific. This will help enterprises better manage the increasing challenges of a new generation of cyberattacks.”

The ASOC centers in Sydney and Singapore will connect to the FireEye global network of ASOCs that form a global network providing an exchange of threat data in real time. Connection of the ASOCs provides FireEye with the information to recognize and block new threats. About 150 cybersecurity professionals are expected be trained to operate the new ASOCs.

Having global network and real-time exchange of information may be a good reason for companies such as JP Morgan to consider using outside cybersecurity professionals in addition to or instead of in-house teams.

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