Are CISOs Ready To Fight Next-Gen Cyber Threats?

by Sohini Bagchi    Sep 09, 2015

fight

The large number of cyber-attacks that took place over the last 2-3 years revealed the weaknesses of many corporate networks and the shortcomings of corporate IT strategies in overcoming advanced threats and targeted attacks. This corroborates that organizations need better processes and solutions to overcome any unexpected security challenges that may arise in the future.

With the theme: “Expect the Unexpected” one of the leading internet security conference in Asia Pacific, CLOUDSEC 2015, promises to address some of these issues and examine the solutions that are central to addressing the growing complexity and frequency of today’s cyber-attacks. Hosted by IT security firm Trend Micro, the event was held in Mumbai and brought together some of the leading minds in the industry and aimed to help companies better protect themselves with strategies and solutions designed to overcome the evolving landscape of cyber threats.

Experts believe the current digital business scenario is potentially a result of the high degree of interconnectedness of today’s networked world. Raimund Genes, Chief Technology Officer, Trend Micro, addressed the top disruptive technologies today and examined their impact on businesses and governments.

“Everything is evolving to take advantage of today’s new digital reality. Disruptive technologies will produce large, complex and intelligent hyper-connected networks and cybercriminals will certainly follow technology disruption closely to develop and launch attacks in unexpected ways. In such scenario, it becomes even more imperative to have platforms like CLOUDSEC to better comprehend and combat cybercriminals,” he said.

Trend Micro’s Q2 Security Roundup Report revealed that the nature of attacks is evolving – no longer are just corporate networks at risk. Cybercriminals are also attacking Internet-connected physical infrastructure such as petrol stations and automated vehicular systems.

According to the report, hackers are taking more strategic approaches, refining their approach and targeting more selective victims to improve their infection rates. This is reflected by the exponential increase in the use of several traditional attack methods, including a 50 percent increase in the integration of the Angler exploit kit, a 67 percent growth in overall exploit kit-related threats, and CryptoWall ransomware becoming highly targeted, with 79 percent of infections occurring in the U.S alone. The APAC market is equally worrying, with the number of malware detections across APAC in Q2 2015 has reached over 118 million.

“The networked nature of today’s world, coupled with the increasing intensity and frequency of cyber-attacks, means that we might just be a major attack or two away from creating a domino effect that could spread around the globe disrupting business and society,” said Dhanya Thakkar, Managing Director, Asia Pacific, Trend Micro.

“However, the cumulative intelligence of the security community is exponentially more than the sum of its parts. This is the true value of a platform like CLOUDSEC, which helps attendees better understand and navigate today’s cyber security issues and challenges,” he concluded.