Explainer: Retrenchments in Singapore – Why Are They Happening Now?

When the term “hacker” comes to mind, you probably think of illicit activities and online threats. In Singapore alone, the prevalence of ransomware and phishing attacks surged significantly with 54% recorded in 2021 and continued to rise by 175% in 2022, with the banking sector being the primary target, according to a review on Singapore’s cybersecurity challenges published on Feb. 11.

For the uninitiated, hacking culture consists of three categories: namely white, black, and grey hat hackers. Black hat hackers are notorious for exploiting security vulnerabilities for malicious purposes, while white hackers are more "ethical" ones who leverage their skills to fix vulnerabilities. In contrast, grey hat hackers are usually involved in morally ambiguous activities which means that their actions and motivations may walk the line between legality and illegality.

If you’re intrigued by the world of hacking or fascinated by the complexities of cybersecurity, chances are you’ve read the comic book series “Hackers: Superheroes of the Digital Age” by Vivek Ramachandran.

Based in Singapore, Vivek is the founder and CEO of SquareX, a browser-native security product or browser extension programmed to keep users safe from nefarious online activities. More than just being a seasonal cybersecurity expert with over 20 years of experience, he is also a security researcher, author, and speaker-trainer.

The Beat Asia caught up with Vivek to learn about his cybersecurity journey, entrepreneurial pursuits for SquareX, and more.

Please share with us the story of how your tech journey started

My journey into the world of cybersecurity and technology began when I was quite young, back in the year 2000, during the massive denial-of-service attacks that targeted prominent websites, including Yahoo. I vividly remember the hacker named Mixter who developed the notorious Tribal Flood Network tool responsible for those attacks. This event piqued my curiosity and led me to download the tool in an attempt to understand how it worked, even though I couldn't grasp much of it at the time.

This initial encounter ignited my interest in cybersecurity and technology. I embarked on a quest to comprehend not only the programming languages involved but also the methods behind crafting such tools. As I dived deeper into this intriguing world, my interest, addiction, and obsession with cybersecurity grew, setting the foundation for my career in the field.

How would you describe the work culture at SquareX?

At SquareX, our company culture is built on a foundation of innovation and collaboration. We foster an environment where creativity and fresh ideas are not only encouraged but also celebrated. Our teams are diverse, bringing together individuals with a wide range of skills and perspectives, which fuels innovation.

To maintain our edge in the rapidly evolving cybersecurity market, we prioritize continuous learning and R&D. We encourage our employees to stay up-to-date with the latest industry trends and invest in their professional development. This commitment to growth enables us to adapt swiftly to emerging threats.

In short, we at SquareX are all about coming up with smart ideas, learning together, and working as a team to lead the way in cybersecurity. It's this kind of environment that keeps us on top of our game and lets us keep delivering top-notch security solutions to our customers.

We constantly read news about hundreds of millions being lost in online scams. What do you think is the root issue, and how can this be solved?

The root cause is that we live in an increasingly complex digital world powered by technologies which are difficult for the average person to understand. This makes it easy for attackers who are more technologically adept to scam and fool the ones that are not. Moreover, these attackers have further enhanced their attacks using AI tools like ChatGPT, making it even more difficult for users to simply identify an attack attempt based on bad grammar.

Unfortunately, the average person lacks security awareness about how they could get attacked in the digital world or which products they could use to safeguard themselves. This can be solved with public-private partnerships to create both security awareness and a culture of good security habits and product use.

What inspired you to write the comic book series “Hackers: Superheroes of the Digital Age”?

After the acquisition of Pentester Academy, I was looking for ways to give back to the community primarily via mentorship, which led me to write and publish “Hackers: Superheroes of the Digital Age."

This initiative was, in a way, my response to the mainstream media's negative portrayal of hackers, often depicted as villains in a digital world. By introducing a series that showcases the diversity and ingenuity of hackers, my aim was to demystify hacking, presenting it as a creative science. The series highlights hacker vigilantes from various backgrounds tackling global issues with knowledge as their weapon, though not always with success.

In today’s AI-driven world, attackers are using technologies like ChatGPT to create malicious code and more convincing scams. How will SquareX’s technology address these concerns?

With the advent of ChatGPT and now AI voice, video assistants, and deep fakes, we won’t be able to rely on our human senses to decide if something is real or virtual just based on seeing or hearing. As SquareX runs on the web browser, we are able to see what users see and hear what is said out there. We are currently building an AI-based security system, which can detect deep fakes in video, audio, and images. Stay-tuned!

Can you tell us more about SquareX’s approach to securing end users and enterprises against web attacks in the browser and how this is differentiated?

Today, the web browser is the most used application on your computer for work and personal life. Attackers now intelligently target users via multiple channels, including web mail, malicious documents, networks and scripts all via the web browser.

SquareX protects against these attacks by deploying a browser extension that constantly monitors everything that is happening on the browser. This allows SquareX to detect and mitigate threats in real-time for every user.

SASE/SSE solutions are unable to protect users against modern web threats that happen on the client side, and endpoint security solutions have no visibility into what happens in the browser during an attack. Hence, we hear more and more enterprises these days are falling victim to cyberattacks.

To address the current limitations and needs of the market, SquareX offers enterprises full visibility into the attack chain, enabling them to effectively threat-hunt and identify similar attacks across their networks and geographies. Empowering the enterprises with detailed threat graphs would help them understand how and where the attack originated.

Our dream is for every web user, from our grandparents to the CEOs of Fortune 100 companies, to “Be Fearless Online.”

What would you say to the young and emerging entrepreneurs who are about to embark on their business journey?

First and foremost, embrace innovation. In today's fast-paced world, the ability to identify opportunities and pioneer creative solutions is paramount. Don't be afraid to think differently and challenge the status quo.

Secondly, build a solid and passionate team. The right people, who share your drive, can take your business to great heights. Lastly, commit to lifelong learning. Business changes constantly, and to lead, you must always be a student. Never stop learning and upskilling yourself

This interview has been edited for clarity. Read more about by Vivek Ramachandran here. Stay updated on SquareX’ latest updates by checking its website.

Enjoyed this article? Check out our previous Elevator Pitch profiles here.

Singapore records another milestone as investment firm Henley & Partners names the city-state as the fourth wealthiest city in the world this year.

With 244,800 millionaires, 336 centi-millionaires, and 30 billionaires, Singapore has now surpassed London, which previously held the fourth spot on the list. It is also the second highest-ranking Asian city, following Tokyo, Japan, in third place.

According to the report, Singapore saw 64% millionaire growth from 2013 to 2023, with approximately 3,400 high-net-worth individuals (HNWI) moving to the city in 2023 alone. Henley & Partners also said that Singapore might be taking over Tokyo soon, which has suffered a 5% decline in millionaire growth for the last ten years.

Meanwhile, New York City leads the pack with 349,500 millionaires this year, holding its spot as the wealthiest city as last year.

Completing the top ten are The Bay Area in the United States at second, London coming in at fifth place, followed by Los Angeles, Paris & Île-de-France, Sydney, Hong Kong, and Beijing, respectively.

Henley & Partners’ World’s Wealthiest Cities list features exclusive data on cities with the most millionaires, centi-millionaires, and billionaires, along with insights from industry experts and leading academics.

To view the full list, click here.

In celebration of over 40 years since its establishment in Singapore, tech giant Apple has announced its plans to expand its campus in Ang Mo Kio.

With an investment of over US$250 million, the expansion plan aims to provide new spaces for the development of artificial intelligence and other key functions. Construction is slated to begin later this year, Apple said in a press release on April 17.

Under the expansion effort, the campus’ two buildings, acquired in 2022, will undergo major upgrades with the addition of new state-of-the-art laboratories and revamped facilities.

To stay true to its commitment to sustainability, the upgraded campus will run on 100% renewable energy, like all the company’s facilities. Upon completion, the building is expected to receive a LEED Gold certification.

“Our Singapore teams have played an important role in enriching the lives of our customers — and we can’t wait for many more decades of innovation to come,” said Apple’s chief executive officer, Tim Cook, in the statement.

Apple first established its Singapore office in 1981 with only 72 employees. Fast forward to today: Apple Singapore already has over 60,000 direct employees, with three Apple Store branches in addition to its Ang Mo Kio campus.

A call for inclusivity is what SPD is aiming for on their latest video campaign with the theme “Look Beyond Their Disabilities, Focus on Their Abilities,” releasing a light-hearted interview between an employee and CEO.

Athirah, an SPD employee, got the chance to interview the VITAL (Ministry of Finance) Chief Executive Dennis Lui, where she asked questions that highlighted the perspective of an employer.

The video campaign aims to challenge the status quo against persons with disabilities (PwDs) by joining the work force.

“I think many employers focus on what the PwDs cannot do rather than what they can do. But in reality, all of us are unique individuals with great talents, and we can bring a lot to the table," was Mr. Lui’s answer when asked about the common misconceptions about hiring PWD staff.

Just like Athirah, who’s a great asset to her company, SPD aims to break the stigma through its video campaign.

Launched in 2022, SPD Contact Centre connects PwDs to the contact centre industry by providing training, refreshers, and enhancing the skills of each employee that they use in tending to administrative tasks given by outsourced clients of the company.

Learn more about the campaign by checking out their website.