Group-IB, an international company that specializes in preventing cyber attacks, announced it would invest up to $30 million until 2022 in its global cyber threat-hunting infrastructure, located in Singapore. The company plans to manage and keep developing this infrastructure at the premises of its new global HQ that the company is going to move to Singapore by the end of this year, said Group-IB CEO, Ilya Sachkov, speaking at CyberCrimeCon 2018 in Singapore.
Over the last 15 years, Group-IB has been building an international infrastructure designed to proactively detect threats and investigate cybercrime around the world. The company has developed a database of more than 100,000 criminal profiles since 2003, which evolved to an intelligence-gathering network that now feeds Group-IB Threat Intelligence (TI). Group-IB TI lies at the root of this infrastructure and along with other company’s products and services forms the basis of its adversary-centric cyber detection and proactive threat-hunting ecosystem.
Southeast Asia in the spotlight of hackers
According to Group-IB’s annual Hi-Tech Crime Trends Report 2018, Southeast Asia is the most actively attacked region. In just one year, 21 state-sponsored groups were detected in this area, which is more than in the United States and Europe combined. Singapore is a global financial powerhouse, which makes it a primary target for financially motivated hacking groups. SEA and Singapore in particular will become one of the main targets for financially motivated APT groups that focus efforts on targeted attacks on the financial sector, according to Group-IB’s forecasts.
«Defense is an outdated strategy. Hackers adapt their tools and tactics quickly. Private and public companies find it very challenging to keep up with rapidly evolving cyber threats. It is time to stop being victims and become hunters. This paradigm forms the basis of Group-IB’s approach to cyber protection and is being reflected in its adversary-centric detection and threat-hunting infrastructure —, which Group-IB is planning to develop and manage in Singapore together with highly skilled Singapore specialists», commented Ilya Sachkov.
Group-IB moving its global HQ to Singapore
Southeast Asia is one of the priority destinations for Group-IB’s business development. The company entered the SEA market 3 years ago. Group-IB’s portfolio of clients here includes banks, financial and government organizations in Singapore, Thailand and other countries. SEA accounts for more than 30% of the company’s international revenue. The company will move not only its global HQ to Singapore but also its IP (intellectual property).
Group-IB’s new global HQ in Singapore will duplicate its Moscow’s office structure in line with the company’s strategy to boost its presence in the global financial centers. In Singapore, the company will create a digital forensic laboratory, cyber investigation department, GIB Computer Emergency Response Team (CERT-GIB) and a development department. In the next 2 years, Group-IB plans to hire 90 employees in Singapore, including 15 people the company is going to bring from its Moscow HQ.
Since 2017, Group-IB has also been an official partner of the INTERPOL Digital Crime Centre located in Singapore. Above all, such partnerships entail the creation of a system for collecting data on hacking groups that operate in the region to fight against cybercrime and to ensure a strong and sustainable digital economy, including through high-quality training of core stuff.