{"id":24026,"date":"2018-09-20T11:25:59","date_gmt":"2018-09-20T10:25:59","guid":{"rendered":"https:\/\/digileaders.com\/?p=24026"},"modified":"2019-01-17T09:46:48","modified_gmt":"2019-01-17T09:46:48","slug":"three-key-levers-combat-cyber-crime","status":"publish","type":"post","link":"https:\/\/digileaders.com\/three-key-levers-combat-cyber-crime\/","title":{"rendered":"Three key levers to combat cyber crime"},"content":{"rendered":"

Our vision for digital security is to improve people\u2019s lives. We\u2019re aiming to do this by reducing cybercrime, protecting our customers\u2019 digital assets, and by enabling organisations to engage with their customers and citizens in the most frictionless way possible.<\/p>\n

To deliver the vision we are focussing on three key levers \u2013\u00a0collaboration, innovation<\/strong>\u00a0and\u00a0\u201cSecurity by Design\u201d<\/strong>.<\/p>\n

1. Collaboration is key<\/h3>\n

If public agencies, private sector security providers, and in-house cyber teams can share security research and threat intelligence, we can maximise security budgets, avoid duplicated effort, and collectively detect and prevent criminal activity much earlier.<\/p>\n

A recent report<\/a>\u00a0(Ponemon Institute:\u00a02018 Cost of Data Breach Study) found that breaches that took over 100 days to identify, cost organisations nearly 40% more than those identified in under 100 days. And breaches that were contained in under 30 days saved organisations c. \u00a31m per breach,\u00a0compared to those that took more than 30 days to resolve.\u00a0 There are certainly opportunities for quick wins by working together.<\/p>\n

The size of the Cyber crime problem<\/h4>\n

The costs of cybercrime are now so vast, that if we only do what we think is necessary at our individual, business or national level we will fall short of the significant challenge facing us.<\/p>\n

In\u00a0 2014, the cost to the global economy of cyber crime was $400bn.\u00a0 It is now running at $600bn\u00a0per year \u2013 that\u2019s greater than the GDP of 80% of all countries in the world.<\/p>\n

In the UK, Cybercrime cost businesses over \u00a330bn last year, yet the UK market spend on cyber services was around \u00a33bn, barely 10% of the cost to the economy of cybercrime.<\/p>\n

The threat to UK businesses is growing \u2013 A 2017 study by Beaming\u00a0discovered that UK businesses each experienced an average of over 600 attempts\u00a0a day<\/strong>\u00a0to breach their corporate firewalls \u2013 30% more than 2 years earlier.<\/p>\n

And according to a 2018 report by Positive Technologies, cyber crime services can be purchased on the dark web at shockingly low rates \u2013 $40 for a hacking email; $50 for a Distributed Denial of Service attack; $750 for infecting an organisation with ransomware.<\/p>\n

Gartner estimate that spending on security and risk management should be around\u00a04-7% of an organisation\u2019s overall IT budget<\/strong>.\u00a0 Innovation can help this budget go further.<\/p>\n

2. Innovation<\/h3>\n

New cyber services are constantly being developed by thousands of security vendors worldwide. By working with resellers and outsource service providers who have their own horizon-scanning and integration capabilities, organisations can discover and test these developments.\u00a0 They include applying capabilities like\u00a0AI and machine learning\u00a0<\/strong>to\u00a0orchestrate and automate security operations;\u00a0<\/strong>and establishing security roadmaps that maximise security investments.<\/p>\n

The same Ponemon study saw organisations that deployed an AI security platform save an average of \u00a3130k (5%) against the average cost of a breach. Organisations that fully deployed\u00a0security automation<\/strong>, including the use of AI and analytics, reduced the average cost of a breach by over \u00a31m.\u00a0 Yet in the UK, only 10% of the surveyed companies had fully deployed such security automation.<\/p>\n

We also need to explore technologies like\u00a0blockchain<\/strong>\u00a0that have security built in to their core.\u00a0\u00a0Sopra Steria has developed a number of\u00a0Proof of Concepts\u00a0that\u00a0use the inherent trust, confidentiality and provenance of distributed ledger technologies to track assets, manage\u00a0logistics and record transactions in a more efficient manner.<\/p>\n

3. Security by Design<\/h3>\n

The security industry mantra is to design applications and services with security controls that are baked in, not bolted on \u2013 particularly relevant when developing solutions that incorporate third party IoT devices. Examples include testing\u00a0application vulnerabilities at each stage of the development process; regularly assessing the value of organisation data; and understanding the relationships between that data and accompanying systems and business processes.<\/p>\n

Should CIA grow up\u2026 to CIPPA?<\/h4>\n

Cyber attacks have typically targeted the\u00a0Confidentiality, Integrity and Availability<\/strong>\u00a0(CIA) of networks and data.\u00a0 We should now add\u00a0Privacy\u00a0<\/strong>and\u00a0Provenance as security considerations, f<\/strong>ollowing the recent Cambridge Analytica\/Facebook scandal,\u00a0new GDPR regulations, \u00a0and the ability\u00a0for home hub devices\u00a0<\/a>to \u201caccidentally\u201d record private conversations; not to mention the rise in counterfeit goods, video mimicry and \u201cfake news\u201d.\u00a0 CIA should now be\u00a0CIPPA\u2026 \u00a0\u00a0<\/strong><\/p>\n

\n

This article was originally published here<\/a>.<\/p>\n

More thought leadership <\/i><\/a><\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Our vision for digital security is to improve people\u2019s lives. We\u2019re aiming to do this by reducing cybercrime, protecting our customers\u2019 digital assets, and by enabling organisations to engage with their customers and citizens in the most frictionless way possible. To deliver the vision we […]<\/p>\n","protected":false},"author":11,"featured_media":24028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"class_list":["post-24026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","region-scotland","topic-cyber-security","topic-innovation"],"acf":[],"yoast_head":"\nThree key levers to combat cyber crime | Digital Leaders<\/title>\n<meta name=\"description\" content=\"Digital security will improve people\u2019s lives. 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