Dave Palmer, Director of Technology, Darktrace
With the rise of data breaches and internal security threats, Gartner projects that worldwide spending on information security will reach US$76.9 billion by end of this year. Despite the large spending on security, many threats have proven that firewalls and other traditional defence tools are incapable of securing the business.
To overcome this problem, cybersecurity startup Darktrace is offering an Enterprise Immune System to help identify a cyberattack in its early stages, while there is still time to act against it. Developed based on the biological principles of the human immune system, Darktrace's system learns which activities are deemed as normal for the organisation and devices and detects subtle deviations from this normal behaviour.
Dave Palmer, Director of Technology, Darktrace, formerly of UK intelligence agencies GCHQ and MI5, tells us more about the Enterprise Immune System.
Based on your observations, how has the security threat landscape in APAC evolved over the years, especially for the financial sector?
To understand how the security threat landscape has evolved, we need to first understand how our everyday lives and business environments have changed. Access to data is now an everyday norm. And while the commoditisation of data is one of the greatest benefits of the Internet's expansive growth, it has also become a risk for businesses that rely on such information - intellectual and commercial valuables are on the line on a daily basis.
The ubiquitous nature of high-speed data connectivity, coupled with the ever-growing capacity of portable storage devices, means that an individual with intent can steal, corrupt and destroy vast amounts of data with relative ease.
The challenge of the last few years has been aggravated by the industrialisation of the cybercrime economy and the increasing sophistication of the perpetrators. Advanced exploit tools are readily available on the internet - customisable malware, laboratories for testing and previously unseen hacking techniques can be exchanged and traded. This means that infiltrating and taking a hold within an organisation has become much easier. Once inside, incognito attacks take place, and these are difficult to spot because they are careful and subtle.
As a result, we've observed an increasing number of threat actors with both the motivation and capability to compromise networks and devices. There's also been a shift in focus: instead of attacking end-users, cybercriminals are targeting organisations that work with financial information or payment tools, such as the US$1 billon heist from banks worldwide by a hacking ring dubbed Carbanak, and personal data from 647 Standard Chartered private wealth clients being stolen from a server at its third-party vendor in Singapore, printing company Fuji Xerox.
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