Tech Trends & Cybersecurity by KPMG

The Cybersecurity Tightrope: Walking the Line Between Data Collection and Digital Defense
The digital age has turned every business into a potential crime scene—only instead of fingerprints, we’re leaving trails of data. Cybersecurity isn’t just firewalls and antivirus software anymore; it’s a high-stakes game of chess against faceless adversaries who’ve read Sun Tzu’s *The Art of War* (and probably the latest zero-day exploit manuals too). Enter Lee Ser Yen, KPMG Singapore’s cybersecurity guru, who’s been preaching a radical idea: *stop hoarding data like it’s a Black Friday sale*. In an era where companies treat personal info like digital gold, his call for restraint isn’t just refreshing—it’s survivalist.

Less Data, Fewer Problems

Ser Yen’s mantra—*minimize data collection*—sounds borderline heretical in a world obsessed with analytics. But here’s the kicker: every byte of data you store is a liability. Think of it as clutter in a spy’s safe house; the more you’ve got, the harder it is to guard. The 2023 IBM Cost of a Data Breach Report revealed that companies holding *excessive* customer data faced 23% higher breach costs. Yet, businesses still act like data dragons, sitting on piles of info because *maybe* it’ll be useful someday.
His solution? Adopt *data minimization*—collect only what’s essential, anonymize the rest, and ditch the “just in case” mindset. For example, does a fitness app *really* need your GPS data 24/7, or just during workouts? This isn’t just about compliance (though GDPR and CCPA will thank you); it’s about shrinking the target on your back.

Privacy by Design: Not Just a Buzzword

If data minimization is the “what,” *privacy by design* is the “how.” Ser Yen insists privacy can’t be bolted on like a bike lock after the theft—it must be baked into systems from day one. Take Apple’s App Tracking Transparency: by forcing apps to ask permission before tracking, they flipped the script from *opt-out* to *opt-in*. Result? Advertisers squawked, but user trust soared.
Practical steps include:
– Pseudonymization: Swap identifiable details (like emails) with random codes. Even if hackers strike, the data’s useless.
– Access controls: Not every employee needs the keys to the kingdom. Role-based permissions limit insider threats (because yes, *that* intern probably shouldn’t have admin rights).
– Data expiration dates: Automatically delete records after their shelf life (looking at you, forgotten 2017 customer surveys).

Tech’s Double-Edged Sword

AI and IoT are the shiny new toys in the digital toolbox—but they’re also cybercriminals’ favorite weapons. AI can automate phishing attacks, crafting eerily personalized scams (*“Hey, your ‘boss’ needs gift cards… urgently”*). Meanwhile, IoT devices—from smart fridges to hospital monitors—are often security afterthoughts. The 2022 Mirai botnet attack proved a network of poorly secured cameras could take down half the internet.
Ser Yen’s counterplay? *Fight fire with fire.* Deploy AI-driven threat detection to spot anomalies in real-time (think of it as a digital bloodhound). For IoT, mandate *secure-by-design* standards—no more default passwords like “admin123.” And for critical sectors (healthcare, finance), regular “cyber fire drills” are non-negotiable.

The Bottom Line

Cybersecurity isn’t a one-time purchase; it’s a mindset. Ser Yen’s strategies—data dieting, privacy integration, and tech vigilance—aren’t just about avoiding breaches. They’re about building *trust* in an era where consumers equate privacy with respect. The next time your company eyes a data goldmine, ask: *Is this worth the risk?* Because in cybersecurity, the best defense isn’t a bigger vault—it’s less to steal.