Page 44 - Cyber Warnings

THE GLOBAL CYBER SECURITY BATTLE

LAPTOPS WILL BE THE ARTILLERY OF THE FUTURE
by David J. OReilly, Managing Director, Hampton Court Capital

Every political and military conflict now has a cyber security aspect to it, which has led to
governments treating the build up of highly advanced defences in this area with the same
importance as they would the acquisition of a new aircraft carrier or fleet of warships or jet
fighters.

In the UK, we have seen the recent formal opening of a National Cyber Security Centre (NCSC)
by the Queen this month, where GCHQ staff will work closely with the best and the brightest
private sector experts to help identify and counter cyber security threats against UK assets.

A perfect storm of events and developments are driving exponential growth in the Cyber
Security sector globally: the growing rise of cyber attacks and the proliferation of new malware
technology such as ransomware, as well as the widespread use of multiple devices as part of
the internet of things such as intelligent domestic appliances and mobile devices.

Gartner estimate that worldwide IT security spending will more than double from $77 billion in
2015 to $170 billion by 2020.

Investors are eagerly deploying capital into new companies in the cyber security sector, many of
which make use of artificial intelligence and machine learning to grapple with the epic task of
interpreting and responding to the truly mammoth volume of data that spews forth from servers
and networks globally each second.

Small to medium sized companies often think that because high profile cyber security news
stories usually refer to governments or large global companies being hacked, such as the US
election hacking rumours or the well documented attack on TalkTalk here in the UK, they do not
need to worry as they are too small to be a worthwhile target – nothing could be further from the
truth.

Cyber attacks are not someone else’s problem – they are your problem and they need to be
viewed as a potential spear in your side that is tackled head on and skillfully deflected, not as a
gaping wound that is stitched up and patched over after the attack.

Regardless of the size of your company, household, government department, hospital,
university or police force, you are a potential target and you need to mitigate the risks.

Ransomware was the biggest growing malware variant in 2016, and it represents a highly
disturbing evolution in the cyber security landscape that should make everyone, from
households to the largest international companies and government agencies, sit up and take
note. This is malicious software that blocks access to a computer until you pay to fix it.

44 Cyber Warnings E-Magazine – March 2017 Edition
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