Mark Lee on Cybersecurity (Amendment) Bill

Cybersecurity concerns were a top trend that businesses expect to impact them in the next 12 months, according to a Singapore Business Federation survey for 2023-24. Changes proposed in the Cybersecurity (Amendment) Bill are welcome as they will help Singapore keep pace with the evolving cyber threat landscape and business environment, said NMP Mark Lee. However, speaking in Parliament on Tuesday (May 7), he raised several concerns of Singapore businesses. First, clarity on the criteria and processes involved in designating entities as Entities of Special Cybersecurity Interest (ESCIs), Foundational Digital Infrastructure or Systems of Temporary Cybersecurity Concern. How will businesses be informed about their designation and what redress do they have for review and appeal? He also said there is a need for clearer definitions when it comes to ESCIs, as many companies operate computers that store sensitive information and could potentially fall under the broad criteria involved. On the burden of compliance, he urged the Government to work closely with businesses to operationalise incident-reporting requirements in a streamlined and cost-effective way. Reporting standards and duties should also be developed with industries before implementation, he said. Mr Lee called for more support for SMEs, given their relative vulnerability and lack of resources. He suggested that the Government provide funding to beef up SMEs’ cybersecurity capabilities as well as centralised support or pooled services that they can turn to for advice and incident response.