Cybersecurity is an enormous investment with even more enormous consequences for mistakes. To build an optimal security stack you need to balance residual risks with total cost of ownership of the cyber security stack and with minimal disruption to operations.
There is no shortage of product announcements in the security industry, and this focus was clearly on display at the recent RSA Conference 2017. And while many attendees went in with high hopes of finally glimpsing the revolution that security experts have been calling for or discovering a solution that will fundamentally change the current, failing endpoint security paradigm – our cybersecurity challenges remain unaffected by the plethora of solutions. Instead of focusing on security for the modern age, companies are continuing to build products and solutions that are feeding into the problem rather than reducing risk. Has the industry become more about having the latest and greatest solution to “keep up with the Joneses” rather than focusing on what we should be building now to prepare for the security challenges we will face tomorrow?
Hedge funds are coming under increasingly heavy fire from attackers and regulators alike. A 2015 report issued by the SEC that examined more than 100 financial companies found that 88 per cent of broker-dealers and 74 per cent of investment advisers have experienced a cyberattack directly or through one or more of their vendors.
Last week, Morphisec officially came out of the cyber security closet at the RSA Conference in San Francisco. It was a great opportunity to hear some impressive speakers, network with like-minded peers and take the Morphisec solution out for its first public airing.
Unlike big financial institutions and commercial enterprises, SMBs (small and medium businesses) generally don’t manage large volumes of sensitive personal or financial data. For a long time, this let them fly under the cyber-attack radar. Those days are gone. According to Verizon’s 2015 Data Breach Investigations Report, published in conjunction with numerous partners including several governmental agencies, smaller organizations accounted for the majority of data breaches. But most small businesses haven’t changed their approach to security, limiting their investments and efforts to the minimum necessary to comply with regulations.
In the current state of cyber security, the bad guys have the upper hand. Cybercrime is an industry, in which huge investments are made by criminal elements. Why? Because ROI is basically guaranteed. Building attacks takes time, requires patience, research, persistence and a good plan that considers the predictability of IT systems and users. Unfortunately, the bad guys seem to have an infinite amount of all of these, and IT systems and users are fairly predictable. So, are we forever doomed to pay millions of dollars in unsuccessful attempts to protect ourselves?
Topics: Moving Target Defense
We’re pleased to share the news about having raised $7 million, which will give us the runway to expand our marketing and sales efforts.
Topics: Company News