Page 93 - Cyber Warnings

Finding real-world solutions to complex business security

problems

News cycles are dominated by ongoing reports of cybersecurity issues and it is expected that by
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2019, the cost of cybercrime could rise to over $2 trillion dollars. In an effort to help businesses
combat threats related to cybersecurity and increase protection protocols, a conference
dedicated to offering real-world solutions to complex business security problems is taking place
in Knoxville, Tennessee this October: EDGE2016 Security Conference.

Created as a response to the growing threat to businesses in a variety of industries,
EDGE2016, presented by Sword & Shield Enterprise Security, Inc., will include speakers with
cybersecurity expertise in the fields of banking and finance, healthcare, government, legal,
manufacturing and retail.

For businesses in these key sectors, the costs related to each cyber-attack on their
infrastructure continues to rise every year. The average cost of a data breach in the U.S. has
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grown from $5.40 million in 2013 to $6.53 million in 2015, with the anticipation that these
numbers will continue to increase.

In addition to the costs associated with these reported attacks, research suggests that the
actual costs on a per-business and global scale may be far greater than the numbers show, due
to reluctance to report security breaches associated with data and industrial espionage for
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certain business entities.

Specific attention on mitigating cybersecurity risks is at the forefront of many of the world’s
leading organizations. Ginni Rometty, Chairman, President and CEO of IBM Corp., related
these issues when speaking to the IBM Security Summit, stating “We believe that data is the
phenomenon of our time.

It is the world’s new natural resource. It is the new basis of competitive advantage, and it is
transforming every profession and industry. If all of this is true – even inevitable – then
cybercrime, by definition, is the greatest threat to every profession, every industry, every
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company in the world.”

93 Cyber Warnings E-Magazine – August 2016 Edition
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