Russian cybersecurity firm Group IB to open global HQ in S'pore, Latest Business News - The New Paper

Russian cybersecurity firm Group IB to open global HQ in S'pore

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MOSCOW: Russian cybersecurity company Group IB is to open a global headquarters in Singapore this year or early next year, its chief executive Ilya Sachkov said.

Mr Sachkov, 32, is a co-founder of the Moscow-based company, set up in 2003 and focuses on investigating high-tech crimes and online fraud.

Its clients include banks, energy companies and telecom firms in parts of the world ranging from Russia to Latin America, Canada, the US and Britain.

The company has offices in London, New York and Dubai.

The move to Singapore comes as Russia and the West are in a stand-off over allegations that Moscow meddled in the US elections. The Kremlin has denied these allegations.

Mr Sachkov, who runs a team of more than 300 people, said timing of the Singapore move was right.

"It is Asia's financial centre - and our business does well in Asia. Singapore is the first country which bought our products ... Interpol's cyber-crime headquarters, with which we are co-operating, is located in Singapore," he said.

In Asia, Group IB plans to target clients ranging from banks to payment systems and crypto currency exchanges to the energy companies and "smart cities", Mr Sachkov said.

Asked how he planned to attract new investors amid Russia-Western tensions, Mr Sachkov said Group IB's experience with customers from other countries, including law enforcement agencies, should help.

"We have a level of trust," Mr Sachkov said. "We did not lose any client in the United States or in the Great Britain, in Europe we are even growing."

Mr Sachkov said the company planned to invest around $30 million in the Singapore HQ up to 2022. The office will employ 90 people, including 15 Russians. - REUTERS