Russian Cybersecurity Firm Plans to Open Global HQ in Singapore

Group IB, a Russian cybersecurity company, is planning to open a global headquarters in Singapore in a few months as part of the firm’s international expansion plans, Chief Executive Ilya Sachkov told Reuters.

32-year-old Sachkov is a co-founder of the Moscow-based company which was set up in 2003 and focuses on investigating high-tech crimes and online fraud. Its clients include banks, energy companies, telecom firms ranging from Russia to Latin America, Canada, the United States, and Britain. The company also 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 U.S. elections. The Kremlin has denied these allegations.

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

“It is Asia’s financial center – 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 cooperating, is located in Singapore,” Sachkov said.

Sachkov, a cybersecurity engineer himself, said that for the business to grow, it should be global.

In Asia, Group IB plans to target clients ranging from banks to the payment system and cryptocurrency exchanges to the energy companies and “smart cities,” among others, Sachkov said.

He added that the company, which is an official Interpol and Europol partner in investigating cyber crimes, is also ready to open its source code to any client as a way to build confidence with new and existing partners. According to Group IB, its customers have been able to recover $300 million thanks to the company’s services.

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