BANGKOK – Thailand has emerged as the most targeted country in Southeast Asia for financial phishing attacks, as cybercriminals exploit the region’s rapidly expanding digital economy. A report by global cybersecurity firm Kaspersky revealed that Thai businesses faced more than 240,000 attempted financial phishing attacks in 2024, the highest in the region.

The findings highlight a growing cybersecurity crisis as Southeast Asia’s businesses become prime targets for cybercriminals looking to steal sensitive financial data. Across the region, Kaspersky’s security solutions blocked a staggering 534,759 financial phishing attempts last year, targeting businesses of all sizes.

The Growing Threat of Financial Phishing

Financial phishing involves fraudulent schemes where attackers use fake websites, deceptive emails, and social media scams to impersonate banks, payment platforms, and online retailers. Victims are tricked into revealing sensitive financial information, including login credentials and credit card details.

Cybercriminals are increasingly sophisticated in their tactics, leveraging fake domains that closely resemble legitimate financial institutions and using targeted phishing emails to infiltrate businesses. Messaging apps and social media have also become prime channels for these deceptive campaigns.

“The sheer number of financial phishing attempts detected on business devices in Southeast Asia is deeply concerning,” said Mr. Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky. “With the region’s digital economy expected to reach US$1 trillion by 2030, cybercriminals see it as an attractive target. Businesses must remain vigilant and invest in strong cybersecurity defenses.”

Thailand: The Top Target in Southeast Asia

According to Kaspersky’s data, Thailand recorded 247,560 phishing attempts in 2024—far surpassing other ASEAN nations. The country’s thriving digital economy and increasing reliance on e-commerce and online banking have made it particularly vulnerable to cyber threats.

The other most affected countries in the region included:

• Indonesia: 85,908 attempted attacks
• Malaysia: 64,779 attempted attacks
• Vietnam: 59,560 attempted attacks
• Singapore & the Philippines: Just over 38,000 each

Government and Regional Response to the Cybersecurity Challenge

In response to the escalating cyber threat, the Thai government is ramping up efforts to strengthen the nation’s cybersecurity defenses. Authorities are working closely with financial institutions and cybersecurity firms to enhance fraud detection systems, implement stricter security protocols, and increase awareness among businesses and consumers.

Southeast Asian governments are also collaborating at a regional level to address the growing cybersecurity crisis. The ASEAN Cybersecurity Cooperation Strategy, which promotes information sharing and coordinated responses to cyber threats, is being reinforced to protect the region’s digital economy.

Indonesia, Malaysia, and Singapore are also stepping up their cybersecurity measures by implementing tighter regulations on digital banking, AI-driven fraud detection systems, and public-private partnerships to combat phishing attacks.

The Road Ahead: Strengthening Cyber Resilience

As financial phishing attacks grow more frequent and sophisticated, businesses must take proactive measures to safeguard their digital assets. Experts recommend:

• Multi-factor authentication (MFA) for financial transactions
• Regular cybersecurity training for employees
• AI-driven security monitoring to detect phishing attempts in real time
• Public awareness campaigns to educate users on identifying fraudulent links

With Thailand leading ASEAN in phishing attack volume, the urgency for businesses and governments to strengthen cybersecurity has never been greater. By enhancing defenses, investing in cybersecurity innovation, and fostering regional cooperation, Southeast Asia can mitigate the risks of cybercrime and ensure a secure digital future for its growing economy. (zai)