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In recent years, Singapore has struggled to
combat cyber criminals, who have committed offences including
stealing client data from Standard Chartered Bank <STAN.L> and
hacking the official website of the prime minister.
Computer security experts say developed, technology-rich Asian
countries are particularly vulnerable to attacks.
Singapore relies heavily on its reputation of being low-crime
and politically stable to lure multinational companies to its
shores.
The national cyber security agency, which will start operations
on April 1, will consolidate and centralize oversight of cyber
security functions, the Prime Minister's Office said in a
statement.
The government also announced the new portfolio of
minister-in-charge of cyber security. Yaacob Ibrahim, Minister
for Communications and Information, will fill the post.
The establishment of the domestic cyber agency follows the
opening of an Interpol centre in Singapore last year, which
focuses on fighting cyber crime.
Noboru Nakatani, executive director of Interpol's Global Complex
for Innovation, said then that Singapore was likely to remain a
prime target for cyber attacks.
Boeing Co <BA.N> said last October it was opening a
cyber-security centre in Singapore, its first such facility
outside the United States, to tackle the "current and evolving
cyber security challenges" in the region.
(Reporting by Rujun Shen; Editing by Jeremy Laurence)
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