Cybersecurity is fast becoming essential to businesses and the average Cambodian as scams, phishing attempts, and other cyberthreats become increasingly common and sophisticated, with the financial sector is especially vulnerable. Now, local and international companies are aiming to tackle the challenge with innovative services.
Online banking fraud and social media scams are ramping up. The Cambodian Financial Intelligence Unit (CFIU) has reported increasing cybercrime, and a 2022 report by the Cambodian Cybersecurity and Digital Economy Agency found that 63% of Cambodians have experienced some form of online fraud. In response, the National Bank of Cambodia has issued regulatory guidelines to strengthen cybersecurity across financial institutions.
Cybercriminals frequently target individuals with scam messages impersonating banks or online payment services. Businesses, particularly those in banking and e-commerce sectors in the Kingdom, are also at high risk due to increased digital transactions. As Cambodia’s digital economy grows, local and international firms are stepping in to offer cybersecurity solutions to mitigate these threats.
Local and international competition
One of the major players in this space is Smart Axiata, which has expanded into cybersecurity with Smart Cybersecurity. This service includes secure mobile browsing, content filtering, and data privacy tools to help businesses and individuals protect their digital activities. Another key provider is EZECOM, which is offering DDoS protection services to help businesses defend against cyberattacks that can overwhelm networks and disrupt operations, essential for companies that rely on cloud-based operations and digital transactions.
Cambodia’s major banks are also investing heavily in cybersecurity. ABA Bank employs advanced encryption and multi-factor authentication to safeguard customer accounts, ensuring sensitive financial data is secure. ACLEDA Bank, meanwhile, has partnered with ControlCase, a global cybersecurity firm, to provide continuous compliance monitoring and auditing, reinforcing its digital security framework.
International firms are offering services in Cambodia, too, challenging local providers to offer competitive and customized solutions. Kaspersky, for example, is offering services like Kaspersky Anti-Virus and Internet Security through local distributors such as KH TECH and ICT Distribution.
With more cybersecurity services emerging, companies and consumers will have greater access to essential protections, ensuring digital security remains a top priority in the years ahead.
