Cyber attacks force a defense strategy re-think
Singapore – A barrage of damaging cyber attacks is shaking up the security industry, with some businesses and organisations no longer assuming they can keep hackers at bay, and instead turning to waging a guerrilla war from within their networks.
US insurer Anthem last week said hackers may have made off with some 80 million personal health records. Also, Amy Pascal said she would step down as co-chair of Sony Pictures Entertainment, two months after hackers raided the company’s computers and released torrents of damaging emails and employee data.
Such breaches, say people in the industry, offer a chance for younger, nimbler companies trying to sell customers new techniques to protect data and outwit attackers. These range from disguising valuable data, diverting attackers up blind alleys, and figuring out how to mitigate breaches once the data has already gone.
“Suddenly, the music has completely changed,” said Udi Mokady, founder of US-based CyberArk. “It’s not just Sony, it’s a culmination of things that has turned our industry around.”
Worldwide spending on IT security was about $70bn in 2014, estimates Gartner. ABI Research reckons cyber security spending on critical infrastructure alone, such as banks, energy and defence, will reach $109bn by 2020.
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