Fintech and cyber security

imparare traning a binario demo in borse con audio Businesses can’t afford to neglect online security, and the cyber security industry is mushrooming.

viagra 200 mg överdos The National Fintech Cyber Security Summit, held in Sydney in May, featured leading figures from
industry, government and research organisations. They took the opportunity to advocate security collaboration and innovation, with the aim of increasing security awareness and opportunities, and
raising Australia’s status as an information security powerhouse.

see Two of the key questions addressed were:

  • Why Australia may be primed to capitalise on cyber security start-ups
  • Why collaboration is the future of cyber security As a small business, these two issues may not interest you. They may not even be eye-popping headlines. But in the long term, these two issues could place Australia in a stronger position economically – by the
country’s being innovative and creative in developing new cyber security solutions. Yes, we too want to join the boat and be a giant hub of crazy like-minded cyber security start-ups. The benefit of linking cyber security to our economy and every part of our business is enormous. In addition, we will also benefit from having a pool of brilliant people whom we can leverage to make our country safer.

follow site The presentation started with Australia’s Chief Scientist, Dr Alan Finkel, who addressed the potential opportunities:

  • The global cyber security market sits at $71 billion annually, growing at 8 per cent
  • Jobs for cyber security have grown by 57 per cent
  • Several Australian organisations, including the Commonwealth Bank and Westpac, make the Global Top 100 companies list. Interestingly, these organisations demand cyber security. Where there is opportunity, there is potential for niche, innovative security start-ups to take advantage.

buy tastylia online IT-Harvest’s chief research analyst, Richard Stiennon, then made a key point: “Where businesses focus on innovation by developing faster, cheaper and better products… hackers, on the other hand, continue to innovate because of the huge payout from stealing data in order to monetise it,” Mr Stiennon said.

opcje binarne touch As a result:

  • Expect a ten-fold increase in spending for cyber security, estimated at $639 billion by 2023
  • Threat intelligence is growing at 84 per cent CAGR
  • The industry overall is growing at 24 per cent CAGRГѓВІ-guadagnare Cyber security presents a huge opportunity. While there is a huge opening for the brightest creative cyber security minds, we as businesses have to be extremely mindful and vigilant about our shortcomings in the face of cyber threats. We too must invest to prevent our own business from becoming a front-page headline. We must also invest in our business’ cyber defence, rather than spend in response to an incident.

guadagnare in borsa opzioni digitali Another interesting presentation came from Ron Moritz, founding partner of TrueBit Cyber Partners. Mr Moritz started out by saying, “We have become dumb. We can’t seem to stop consuming security technologies.” He is right. We tend to think security is solved by a shiny new silver bullet of yet another security technology.

More security technologies means businesses require more security experts. And there aren’t enough ‘good’ guys to go around. Here are some interesting statistics:

  • According to Risk Analytics, 75 per cent of attacks spread from victim zero to victim one within 24 hours. Forty per cent of those spread within the first hour
  • Confirmed data breaches were up 55 per cent between 2014 and 2015 (Verizon Data Breach Investigations Report)
  • It takes 205 days on average to detect an incident, and another 120 days on average to remediate the exploit

Are we at a disadvantage or what? What is the answer? Well, according to Mr Moritz, we need to collaborate, exchange and share cyber experts. Right now, we just don’t do it well.

I would also add that businesses need to start doing the basic cyber ‘hygiene’ well. Consider the Top 4 Mitigation Strategies of the Australian Signals Directorate (ASD). According to the ASD, at least 85 per cent of the targeted cyber intrusions it responds to could be prevented by following the top four mitigations.

The question you are probably asking is: what does this National Fintech Cyber Security Summit mean to me?

For starters, if you know of a business that aims to be creative and innovative, and is looking to leverage their cyber security opportunity, the National Fintech Cyber Security Summit could be a first step to a
much bigger picture. Why not touch base with organisations such as Data61 (CSIRO) or Stone & Chalk.

Secondly, if you are a business, you must take security practice to another level. It doesn’t necessarily mean huge investments in technology and experts. It’s about implementing basic security practices in a consistent manner. Ransomware is becoming prominent as a major threat to all businesses. Why not ensure you have a proper back-up system in place, as well as a tested recovery system.

Finally, increasing our awareness is important. As businesses, we tend to keep our heads stuck in the weeds and rarely take time to look around.

Security protection is everyone’s business. Your business viability is important to the whole economy.


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